Given the following data on input and output levels. Suppose the output price is $5 and input price is $10. Find the values of AVP and MVP when X = 10: X Y 0 0 2 100 4 250 6 450 8 600 10 700 12 750
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- To produce the next popular toy, a company has to pay a factory $250, 000 to set up the production line. They also have to pay $25 per item for the raw materials and labor. Write function for the average cost to produce x items. Then describe what happens to the average cost as the factory produces a large number of toys.Please only do, d,e,f please!AVC=10-0.03Q + 0.00005Q2TFC=60 What is the MC Function?
- Calculate the total revenue if the firm produces 4 versus 3 units. Then, calculate the marginal revenue of the fourth unit produced. The marginal revenue of the fourth unit produced is________. Calculate the total revenue if the firm produces 8 versus 7 units. Then, calculate the marginal revenue of the eighth unit produced. The marginal revenue of the eighth unit produced is________.It costs a company $58 to produce 6 units of a product and $78 to produce 10 units. Assuming that the cost is linear, how much does it cost to produce 25 units?Does the output maximization level of input use exist for the following function? If yes, then what is the exact input-use level? y = x1 + 0.1x12 - 0.05x13 + x2 + 0.1x22 - 0.05x23
- Evaluate the following question. Show your work.Please see attached image for question. Please note that there is an overline above the "K" in the oven/captial equation (K = 1). It does not show clearly in the image.A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is p= 200-0.05D where p is the price per unit in dollars and D is the demand per month. The company is seeking to maximize its profit. The fixed cost is $15000 per month and the variable cost is $50 per unit. a. What is the number of units that should be produced and sold each month to maximize profit? b. What is the domain of profitable demand during a month? Show your spreadsheet.
- MC at 5 level of output.The output (Q) of a production process is a function of two inputs (L and K) and K is given by the following relationship: Q = 0.50LK− 0.10L2− 0.05K2 The per-unit prices of inputs L and K are $20 and $25, respectively. The firm is interested in maximizing output subject to a cost constraint of $500. Use the lagrangian optimization techniques to find the following: How many units of L and K should be used by the firm? What is the total output of this combination? What is the marginal rate of substitution between L and K?It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake issold for $4.90 each.(i) Make a table showing the total cost and the revenue obtained from producing 20,40,60,80 and 100 cupcakes.(ii) Write algebraic expressions representing the cost C and the revenue R as functions of the number of cupcakes X produced and number of cupcakes X sold respectively.(iii) Graph both functions on the same coordinate axes and from your graph determine the cordinate at which cost equals revenue.
