P=21 - 0.7 Q price per kilo and Q is the kilos of coffee demanded and her total costs are given by TC = 18 + 12 Q + 0.3 Q² marginal revenue function of this firm? Use capital letters in your response (i.e. Q not q). marginal cost function of this firm? Use capital letters in your response (i.e. Q not q) 固助 e following best describes what the marginal cost means in words? cost Dalia will have to pay to produce another kilo of coffee and this cost is always the same. t of producing a given level of output. rage cost of all the output and it depends on the total level of output. at of producing more output. cost Dalia will have to pay to produce another kilo of coffee and it depends on the total level of output. kilos of coffee should Dalia roast if she wants to maximize her profits? Give your answer to within one decimal place (e.g. 4.1). Make sure you y. decimal place (e.g. 2.3), she will produce AEkgs of coffee to maximize profits. ne decimal places (e.g. 7.1), How much profit does she make? Make sure you round correctly. of profit.

P=21 - 0.7 Q price per kilo and Q is the kilos of coffee demanded and her total costs are given by TC = 18 + 12 Q + 0.3 Q² marginal revenue function of this firm? Use capital letters in your response (i.e. Q not q). marginal cost function of this firm? Use capital letters in your response (i.e. Q not q) 固助 e following best describes what the marginal cost means in words? cost Dalia will have to pay to produce another kilo of coffee and this cost is always the same. t of producing a given level of output. rage cost of all the output and it depends on the total level of output. at of producing more output. cost Dalia will have to pay to produce another kilo of coffee and it depends on the total level of output. kilos of coffee should Dalia roast if she wants to maximize her profits? Give your answer to within one decimal place (e.g. 4.1). Make sure you y. decimal place (e.g. 2.3), she will produce AEkgs of coffee to maximize profits. ne decimal places (e.g. 7.1), How much profit does she make? Make sure you round correctly. of profit.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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(a) The marginal cost of two firms are given by the following Firm 1: C'(Q) = 300eº.1Q+2 TC= 3000 when Q = 0 Firm 2: C'(Q) = 41 +30Q -5Q² TC =400 when Q = 0 (i) What is the fixed cost for each firm
Answer the last two parts which is •Calculate the break even and profit maximizing levels of output and Price • what is the relationship between price, marginal revenue and own Price elasticity of demand at the profit maximizing point
Find the total cost function C(Q) for each firm
(a) The marginal cost of two firms are given by the following | cost Firm 1: C'(Q) = 300e® 1Q+2 TC= 3000 when Q = 0 Firm 2: C'(Q) = 41 +30Q -5Q² TC =400 when Q = 0 (ii, (iii) avee (iv) Find the total cost for producing up to 100 units
I need an asnwer of D
Foc
Suppose that each firm in a competitive industry has the following costs: Total cost: TC = 50 + 0.5Q^2The market demand curve for this product is: Qd= 120 −PThere are 9 firms in the market.a) What are each firm’s: fixed cost, variable cost, marginal cost, and average total cost? Graph the average-total-cost curve and the marginal-cost curve.b) Give the equation for each firm’s supply curve.the average-total-cost curve at its minimum? What is marginal cost and average totalc) Give the equation for the market supply curve for the short run in which the numbercost at that quantity?
Tex has a small plant that produces storm windows. Its total revenue function is ?? = 5.4?, and the total cost function is ?? = 30 + 3? + 0.03?2 What is the profit maximizing output for Tex? Show your work. What is his selling price? How much profit is he making? Now assume that Tex has fixed costs of only 5. With this different information, answer parts (a) and (b). How have fixed-cost changes influenced Tex's production decisions? Now assume that Tex has fixed costs of 55. How would your answer change to part (c)?
The market for drones is perfectly competitive. Assume for simplicity that fractions of everything, including firms, is possible. We have identical firms, each with a Total Cost curve of TC=215+58q+q^2 and Marginal Cost curve MC=58+2q. Market demand is Q=744-2P. What is the Average Variable Cost if the firm produces 17 units?
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