Now we have that AVC achieves it's minimum when q = 3. Find the minimum value that the AVC reaches by plugging in q=3 to AVC (q) = q² – 6q + 20. You can verify that this value is right in a couple of ways: (1) check your desmos plot to make sure that the y-coordinate at the minimum matches AVC(3). The other is to compute MC(3), which should be the same as AVC(3). %3! Set p-AVC(3), the value you just found. This should be your shit-down price. That is, the firm shuts down if p 0 O The firm will shut down if p < 600 The firm will shut down regardless of price

Now we have that AVC achieves it's minimum when q = 3. Find the minimum value that the AVC reaches by plugging in q=3 to AVC (q) = q² – 6q + 20. You can verify that this value is right in a couple of ways: (1) check your desmos plot to make sure that the y-coordinate at the minimum matches AVC(3). The other is to compute MC(3), which should be the same as AVC(3). %3! Set p-AVC(3), the value you just found. This should be your shit-down price. That is, the firm shuts down if p 0 O The firm will shut down if p < 600 The firm will shut down regardless of price

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Monthly sales of a particular personal computer are expected to decline at the following rate of S'(t) computers per month, where t is time in months and S(t) is the number of computers sold each month. S'(t)= -25t^(2/3) The company plans to stop manufacturing this computer when monthly sales reach 900 computers. If monthly sales now (t=0) are 2,100 computers, find S(t). How long will the company continue to manufacture this computer?
How to Calculate the p-Value When σY Is Known?
MINIMIZE the amount and what is the minimum amount of pounds?
A company has established that the relationship between the sales price for one of its products and the quantity sold per month is approximately p = 79 – 0.11D units. The fixed cost is $800 per month and the variable cost $32 per unit produced. What number of units, D*,should be produced per month and sold to maximize the profit per month related to the product?
Needed to be solved correctly in 10 minutes and get the thumbs up please show neat and clean work Please do in 10 minutes only
Find the value of K when MPS is = 0.79
Suppose Cobb-douglus prodution function, yielded 3 = 0.956875 and â = -1.38961 thus the log form becomes logQ = -1.38961 + 0.956875 log K +0.429457 log L (8.662) (4.390) (4.139) T = 90 R = 0.6755 F(2,87) = 117.74 ở = 0.27476 (i) If K is increased by 10 percent while L remains constant,estimate how much Q would increase. (ii) If all factors pf production (both K and L) are each increased by 10 percent estimate how much Q would increase.
Q4 Identify the Types of the following Functions: C = f(Q) = Q³ – 5Q² + 14Q + 50,. AR = f(Q) = 15 – Q, .. .
Your savings account balance at the end of May was $500. You made a $200 deposit on June 4 and withdrew $100 on June 25. Calculate your average (mean) daily balance for June.
The cumulative average labor hours to assemble the first five units of product A was 15.554 hours. If the learning curve, based on the previous experience with similar products, is 85%, what is the estimated time (labor hours) that will be required to assemble the 19th unit? The number of labor hours required to assemble the 19th unit is hours. (Round to one decimal place.)
A manufacturer estimates that its product can be produced at a total cost of c(x)=40,000+100x+x^3 dollars. If the manufacturer's total revenue from the sale of x units is R(x)=4300x dollars, determine the level of production x that will maximize the profit. Find the maximum profit.
Finding the eigenvalue of A = (; ) 10, -1 2, 5 -10, 1