In a given market the inverse demand function is P = 170 - Q per year. The interest rate is r= 0.05 and the cost structure of a firm is given by C(q) = 80 q.
Q: What is AC(y) for cost function c(y) = y3? Input prices are taken as constants.
A: Average cost measures the per unit cost of production.
Q: The inverse demand function and cost function is given by P= 50-2Q and C = 10+2Q Calculate the total…
A: Demand function, P = 50 -2Q Cost function , C= 10 +2Q
Q: The demand function for a firm is p = 320 – 3.2x, and the cost function is C(x) = 100 + 80x –…
A: (i) Demand Function p = 320 - 3.2x Cost Function C(X) = 100 + 80x - 1.6x2 Profit = Revenue - Cost…
Q: Find the marginal profit function if cost and revenue are given by C(x) = 183 + 0.3x and R(x) = 9x -…
A: Marginal profit function measures how much the profit changes when there is a unit change in the…
Q: The total cost function of a firm is:- 23Q² - 13Q + 40 Find the average cost function
A: The total cost (TC) is divided by the entire output to get the average cost of production (Q). All…
Q: A firm's demand function is Q = 16 – P and its total cost function is defined as TC = 3 + Q +…
A:
Q: Find the average cost function for each firm
A: Total cost is the expenditure that is incurred in the production of goods and services. It is the…
Q: For a certain company, the cost function for producing x items is C(x)=40x+150 and the revenue…
A: “Since you have posted multiple questions, we will provide the solution only to the first question…
Q: What is the price function of output for a firm with cost function c(y) = y2+ 2y2+ 6 ? (a) y = P/6…
A: Answer in step 2
Q: What is MC(y) for cost function c(y) = y3? Input prices are taken as constants.
A: Marginal cost measures the change in total cost with an additional unit of production.
Q: A firm has a cost function given by C(y)=100+12y-8y^2+2y^3. At what output level is marginal cost…
A: "In economics, cost refers to the value of money that is spent in order to produce a good." "A cost…
Q: The total cost function of a firm is:- 23Q? - 13Q + 40 Find the average cost function
A:
Q: Find the marginal profit function if cost and revenue are given by C(x) = 190 + 0.6x and R(x) = 7x -…
A: Answer to the question is as follows:
Q: Suppose that the a firm's cost function is given by: C(q)=1+3q2. Then, the expression for this…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Let the production function be F(K,L) = sqrt(KL) Find the minimum cost for the long run
A: The production function shows the relationship between inputs and output. The rise in inputs causes…
Q: An economist estimated that the cost function of a single-product firm is: C(Q) = 90 + 30Q + 25Q2 +…
A: Fixed cost is the cost that doesn't change with the increase or decrease in quantity. Average fixed…
Q: A firm can produce 100 units per week. I Junits Find the maximum profit.
A: Answer to the question is as follows :
Q: Suppose the cost function for a firm is given by C(q) = 200 + 5q. Then: (i) the fixed cost is (ii)…
A: If the cost function of a firm is given as: C(q): 200+5q One can identify other cost function as…
Q: Find the cost function for the marginal cost function. c'(x) = 0.06 e 001x. fixed cost is S7 C(x) =|
A: We are going to find total cost function by integrating marginal cost function to answer this…
Q: given the function c(x) = 100 + 8x + 0.1x^2 find the marginal profit At x = 50 if the price per unit…
A: given c(x) = 100 + 8x + 0.1x^2 x = 50 and price per unit (P)= 20
Q: Suppose the cost function for a firm is given by C(q) = 200 + 5q. Then: (i) the marginal cost is…
A: Marginal cost refers to the additional cost incurred in production of 1 more unit.
Q: Teddy J is a manufacturer of dish washing liquid . If his monthly demand function for 750ml size is…
A: Answer to the question is as follows :
Q: A firm produces its output using the following production function: 1 f(x1, x₂) = x₁x₂ where x₁ is…
A: Production function:Production is a function of land labor capital and entrepreneurship. It includes…
Q: If the United States creates a trade agreement with Vietnam, we know that Vietnam will benefit, but…
A: The United States and Vietnam have made peace agreement from past few decades, but they have…
Q: The market for high-quality caviar is dependent on the weather. If the weather is good, there are…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Find the total cost function C(Q) for each firm
A: Total cost is the expenditure that is incurred in the production of goods and services in an…
Q: A farm produces rice, which is sold in 50 kilogram bags. Let Q denote the number of bagsproduced per…
A: Profit function is given by P(Q)=−2Q2+46Q−100
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- Each time a song is played on the radio, the record company and the songwriter are paid a royalty of $0.30.Of the total, 75% goes to the company and the rest to the writer. If on a network of 50 radio stations, a certainsong is played 4 times a day during the first week and then 20 times a day for the next three weeks, how muchdoes the network owe in royalties for the four weeks? How much do the record company and the songwriterreceive eachplease solve it on a paper1. ThedemandfunctionforagoodisgivenbytheequationP=a−bQwhilethetotalcost function is TC = dQ2 + eQ + f, where a, b, d, e and f are positive constants. (a) Derive the equation for profit.(b) Derive an expression for the value of Q for which profit is maximised.
- Question Two: The following data for a small farm operating in a perfectly competitive market are given in the table below. The price is $10 per yogurt. Q TC 100 10 200 20 280 30 330 40 360 50 380 60 390 70 425 80 500 90 610 100 750 Instructions: 1. What is the firm's decision at that price? (whether to produce or to shutdown), justify your answer. 2. Show the range of output at which the firm experience IMR and DMR. 3. Using excel, now suppose the price of strawberry yoghurt decreases to $5.5 per unit, what is the right decision firm should take, (produce or shutdown) justify your answer.please fastAcme Drug Co. has a patent on the drug A-rene, the annual demand for which can be described by the demand curve: Q = 4500 - 300P. Production of the drug requires an annual fixed cost of $3,000 and a per unit marginal cost of $5. (i) How many units of the drug will Acme produce each year, and what price will it charge, in order to maximize its profits? What will be its annual profits? (ii) Now suppose that the Better Drug Co. has discovered B-rene, a new drug which seems to be identical to A-rene in all its effects. If Better enters the market, competition with Acme will conform to a Cournot duopoly. Better’s costs are identical to those of Acme. What would be the equilibrium outcome of this duopoly? Specifically, how much would each firm produce and what would be the price? How much profit would each firm make? Would Better find it profitable to enter the market? (iii) Would it be in the interests of society as a whole for Better Drug to enter into production? Identify the gainers and…
- show solution An oil refinery produces one base type of crude oil. The total cost is given by the equation Total Cost, TC = 50,000+20.2D +0.0001D2. The sales price in dollars per barrel is 35. At what level of production in barrels/week is cost/barrel minimum? What is the minimum cost per barrel? What is the maximum weekly profit that the company can make? At what level of production is the maximum weekly profit attainable? and Over what range of production is profit possible? Express answers in whole numbers and write the numerical values only.A toy manufacturer makes miniature trucks. The pricep(in dollar) and the demandx(numberof miniature trucks) are related by the equation 6000−600p=x. The total cost for the sametoy manufacturer to producexminiature trucks can be modeled byC(x) = 8x+ 450.(a) (10 points) Express the pricepin terms of the demandx. Find the revenueR(x) if themanufacturer sellsxminiature trucks in a month and find the domain of this function.(b) (10 points) Graph the cost and revenue functions on the same coordinate system for 0≤x≤6000.(c) (10 points) What is the minimum number of trucks the toy manufacturer must sell tobreak even?(d) (10 points) FindP′(300) and interpret the result.(e) (10 points) What is the exact profit from the sale of the 301stminiature truck?You're company manufactures on large scale unit and it has been shown that marginal or variable cost are given by this function (92-2x)sh where xis the number of units of output per annum the fixed costs are 800000 annually, it has also been shown that the marginal revenue which is the gradient ot the total revenue is given by (112-2x) ... required determine by integration the total cost, the total revenue , the break even point of your company and the number of units of output that would maximise total revenue
- of your account imile a) S89.25o b) S81.136 c) $85,193 d) S87 56/ = 0 and the variable cost per unit is 40. Then 13-If the selling price of a certain producet is: the demand that gives maximum profit is: D. a) 2329 units b) 2000 units c) 2339 units d) 2333 units e) 2167 units 14- From the following comparisons of mutually exclusive alternatives, decide which one should be selected, if any, assuming the company's MARR is 11% per year. The ranking of the alternatives according to increasing initial investment cost is A, B, C, and D. Comparison D В-А C-A D-A С-В D-B D-C IRR 14.1 11.7 19.4 17.5 8.1 10.4 8.3 23.1 22.9 11.7 a) Alternative B b) Alternative A c) Alternative C ) Alternative DVannasBrew produces raspberry lemonade and sells it competitively. To secure its activity, VannasBrew must rent a factory space at the cost of 15 00O SEK/month. The production of one bottle of raspberry lemonade costs the firm 32 SEK. As long as its monthly production is less than 40 000 bottles a month, VannasBrew can store its output on its own premises before it is shipped to the stores. If the production exceeds 40 000 bottles the company can rent additional storage at the cost of 2 SEK/bottle per month. (a) Describe the firm's average fixed cost, average variable cost, average cost, and its marginal cost. (b) Assume the current market price for a bottle of raspberry lemonade is 33 SEK/bottle. Explain how much the firm should produce in order to maximise its profits. Calculate the profits of the firm. (c) VannasBrew could increase its own storage capacity to 60 000. This means that if its production exceeds 60 000 the firm will rent additional storage capacity at the cost of 2…Profit Analysis Unendo, is a large computer game manufacturer. They have estimated that the demand function for their game "Star Wars Battlefront III" is as follows... STAR WARE BATTLEFRONT p = 86 - 0.05q where p is the price of a game and q is the number of game produced and sold per week. They estimate that their cost function in dollars is ... Clq) = 179 + 5000; where the fixed cost is $5000 and the marginal cost is $17 per game Unendo wishes to maximize the weekly profit of producing and selling the game. Find the maximum profit they can earn. (Round your answer to 2 decimal places, if necessary)