Marginal Cost The total weekly cost (in dollars) incurred by Lincoln Records in pressing x compact discs is given by the following function. C(x) = 2000 + 2x -0.0001x² (0 ≤x≤ 6000) (a) What is the actual cost incurred in producing the 991st and the 2081st disc? (Round your answers to the nearest cent.) 991st disc $ 2081st disc $ (b) What is the marginal cost when x = 990 and 2080? (Round your answers to the nearest cent.) 990 $ 2080 $

Marginal Cost The total weekly cost (in dollars) incurred by Lincoln Records in pressing x compact discs is given by the following function. C(x) = 2000 + 2x -0.0001x² (0 ≤x≤ 6000) (a) What is the actual cost incurred in producing the 991st and the 2081st disc? (Round your answers to the nearest cent.) 991st disc $ 2081st disc $ (b) What is the marginal cost when x = 990 and 2080? (Round your answers to the nearest cent.) 990 $ 2080 $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Two companies must collaborate to develop a new product. They must choose between two products,…

A: We have to calculate the equilibria in pure strategies and the basic game it resemble.Equilibria in…

Q: When exporting from a country outside an area to a region where countries have signed a cooperative…

A: In a cooperative trade agreement, such as a customs union or a free trade area, where countries have…

Q: This year is expected to be a great one for selling walking shoes in Georgia. At very low prices,…

A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…

Q: Q19 Sales Contract (for international trade) is a sort of master agreement for continued…

A: An international sales contract refers to an agreement between a seller and a buyer that identifies…

Q: At output Q₂2 and price P2, which of the following is TRUE? OA. The firm suffers some diseconomies…

A: The study and analysis of commercial difficulties impacting businesses using abstract economic…

Q: What type of automobile insurance should you offer to the owner of a business who does not own an…

A: Automobile insurance is a contract between insured and an insurance company where you pay a premium…

Q: The number of clients Aliyah can take on depends on the number of workers she hires as shown in the…

A: Marginal Cost is the additional cost that the producer incurs in order to produce an additional unit…

Q: Assume that the demand and supply curves for some quantity of a product are given by d(x) 30 x + 2…

A: The equilibrium is established where the demand and supply are equal. The equilibrium changes when…

Q: xplain how the ban of export of chicken will affect the welfare of consumers, producers and the…

A: Country A would have a tougher market competition with the domestic consumers because the market…

Q: 36. Number of Sellers: The government has granted a patent to a drug company for an ex cancer drug.…

A: A competitive market is one where there are numerous producers that compete with one another in…

Q: This year is expected to be a great one for selling walking shoes in Georgia. At very low prices,…

A: Market supply refers to the total quantity of a specific good or service that all suppliers or…

Q: Given - Qd=525−3pQs=265+2pTC=23Q2+150Q A)What is the equilibrium price and quantity? B)What is the…

A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: Consider the estimated demand function for coffee Q = 8.5 p + 0.01Y, where Q is the quantity of…

A: Demand is defined as the desire and ability to pay for individuals at various prices at a given…

Q: Anticipating low Demand in the next few weeks due to a holiday, stores begin pulling butter off the…

A: The point of balance in the market when quantity (Q) supplied of a good is equal to its demand at a…

Q: Deborah is a stay-at-home parent who lives in San Francisco and does some consulting work for extra…

A: Given information: Initial wage rate = $20 per hour Final wage rate = $35 per hour Working hours at…

Q: In the Mapuche's community of Lefelwen, only 3% of their population can speak the mapuche language.…

A: Community: It refers to the people who live in the society. Community is a group of people who…

Q: How had the Russia-Ukraine war impacted the oil market? Draw a supply-demand graph to briefly…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The state of Oregon's wine industry specializes in the production of Pinot Noir wine, a type of red…

A: The state of Oregon's wine industry specializes in the production of Pinot Noir wine, a type of red…

Q: Government support for the development of Covid-19 vaccines took two different forms. Some firms…

A: Purchase agreement of advanced situation would involve risk for the purchasing governments. Because…

Q: There are two companies offering satellite radio. The aggregate demand schedule for hours of…

A: Cartels are the competitors in the same industry and they seek to reduce that competition by…

Q: Consider a rice farmer planting two (2) types of rice, white and brown rice, concurrently in his…

A: Related goods are products whose consumption patterns are influenced by changes in the price or…

Q: Given the above conditions and the production table above, fill in the table below.

A: We are going to find the maximum profit for each price scenario mentioned in the question.

Q: Creative destruction is Multiple Choice O O O the process by which large firms buy up small firms.…

A: Creative destruction is usually beneficial or efficient when resources are scarce in society. It…

Q: 1. Suppose there are two power plants that release sulfur dioxide (SO₂) into air at their current…

A: Given that;MAC1 = 3q1MAC2 = 2q2Two power plants release 150 units of SO2 and each firm currently…

Q: There is evidence that the UK China import tariff escalation has affected factor prices in both…

A: A factor price refers to the unit cost of employing a component of production, such as labor or…

Q: Describe two reasons why it is very difficult for fishery scientists to make accurate population…

A: Fishery can refer to the business of producing or harvesting fish and other aquatic life, or it can…

Question

EX 21

Marginal Cost The total weekly cost (in dollars) incurred by Lincoln Records in pressing x compact discs is given by the following function.
C(x) = 2000 + 2x -0.0001x² (0 ≤ x ≤ 6000)
(a) What is the actual cost incurred in producing the 991st and the 2081st disc? (Round your answers to the nearest cent.)
991st disc $
2081st disc $
(b) What is the marginal cost when x = 990 and 2080? (Round your answers to the nearest cent.)
990
$
2080
$

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Trending now

This is a popular solution!

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What are (3) defining differences between a Patent and a Provisional patent?
At first glance, the research reported in the Washington Post article Why We've Been Hugely Underestimating the Overfishing of the Oceans may appear to be only bad news for the world's stock of fish. However, researchers believe that their discovery of how much overfishing has been underestimated could also be good news. Determine whether each statement should be considered good news or bad news based on the information in the article. Show Transcribed Text Good news Fisheries may be able to feed more people than previously thought. Answer Bank Policy made using FAO data could be poorly made because FAO data does not match reality. Severe declines in catches since the 1990s may be due to unsustainable fishing. Declines in catches have been even greater than FAO data suggests. Sustainable food production may be more at risk than scientists thought due to the fishing industry catching far more fish than previously believed. Bad news When catches peaked, fisheries were actually much more…
Consider Country A that produces a large amount of chicken, keeping part of them for local consumption and exporting the surplus amount of chicken to other countries. Due to increasing price of chicken which adds to the higher living costs in Country A, there are increasing requests from the residents of Country A to make chicken more affordable. (a) In Country A, chicken is the cheapest white meat consumed by almost every household. It is also the main source of protein with very few close substitutes. Rearing chicken also needs time and a substantial amount of land. Based on this information and your understanding of the determinants of the price elasticities of demand for and supply of chicken, classify chicken in terms of the price elasticity of demand and supply. Explain your answers.
Piracy, the unauthorized use of IPR, is a critical issue in the entertainment industry. Several file-sharing services—USENET, BitTorrent, and Limewire—enable users to download movies, TV programs, and music virtually for free. A predominant way in which firms have taken action against file-sharing is through Digital Rights Management (DRM), which includes several technologies that curb the usage of digital content. DRM has been the object of severe criticism, targeted for everything from harming legitimate users to preventing viral marketing and presenting a powerful obstacle to free trade. What is worse is that most DRM systems have been cracked quite easily. Considering both the ease of piracy and the relative failure of preventive measures, how should media firms safeguard their IPR and secure their profitability? Should they seek other IPR technologies? Should they aggressively seek and bring offenders to trial? Or are there ways in which firms can make profit while allowing open…
Gerard.inc. is one of the leading producers of dairy exports. The company has 2 variants of superior milk, namely mocha and green tea. Based on historical data, the R&D team has found that the advantage per liter for each milk variant follows the following equation: πmocha = $45 - 0.9x and πgreen-tea = $65 - 1.7y Where x is the number of liters of mocha milk produced and y is the number of liters of green tea milk produced. It takes 2 hours to produce 1 liter of mocha milk and 5 hours to produce 1 liter of green tea milk. With the current number of workers, companies have a total of 40 hours of work in a day, and everything should be used to make both variants. The company wants to know the optimal amount of milk to be produced. a. How many liters of mocha milk and green tea should the company produce? b. What is the optimal objective function value based on your calculations? c. What is the lagrange multiplier value and what does it mean?
What would be step by step process to solve this.
Static Game: Dynamic Game: US USA/Fiji No-Tax Tax Tax No Tax Tax (10000, -99989) (10100,-89990) (9900,-9989) (10000,10) Fiji Fiji No-Tax Tax No Tax Tax No Tax 10,000,10 9900,-9989 10,100,-89,990 Sub-game_1 10,000,-99,989 Sub-game_2 Sub-game_3 1. What is the subgame perfect Nash equilibrium of the dynamic game? How does it differ from the equilibrium of the static game?
Your friend Donald needs to decide where to build his manufacturing plant and asks Joe for advice because you don't have time to deal with Donald. After research, Joe finds that the wage costs in his area, based on distance to market, are as follows: 200 - 3x, while the shipping cost to get the goods to the consumer is 5x, where x is the distance to market Two equations. Draw the land bid for the manufacturing plant, considering a revenue constant of $450.
You are helping a friend that owns a local store. Their costs are per unit, so the only way they can maximize profits are by increasing revenue. Therefore, you would like to help identify the price that will maximize revenues. Below is data from a previous period. Complete the chart. (For the TR Test, consider that prices are increasing
Give typing answer with explanation and conclusion
Wild West produces two types of cowboy hats. A Type 1 hat requires three times as much labor time as a Type 2. If all the available labor time is dedicated to Type 2 alone, the company can produce a total of 600 Type 2 hats a day. The respective market limits for Type 1 and Type 2 are 150 and 300 hats per day, respectively. The profit is $8 per Type 1 hat and $5 per Type 2 hat. Determine the maximum profit. A 3200 B C 2300 2100 D 3400 E 1950
Multiple choice question. There are two closely related crops, X and Y, with the following demand functions QX = 180- 2PX + PY and QY = 150 + PX - PY where QX is the quantity of X, PX is the price of X, QY isthe quantity of Y, and PY is the price of Y. These two crops are grown in two widely separatedcountries so there is no interrelationship between the supply curves. The short-run perfectlyinelastic supply for X is 150 while the short-run perfectly inelastic supply for Y is 100. Inequilibrium, the prices area) PX = 80, PY = 130.b) PX = 40, PY = 65.c) PX = 60, PY = 120.d) PX = 30, PY = 80.