Suppose a firm has an average total cost function given by: ATC = 11094/q +6 + 6q. Calculate the quantity where ATC is minimized. (Round to the nearest two decimal places if necessary.)

Q: ompute the MRTS for this production function: Y (K,L) = 2K+5L

A: MRTS also known as the marginal rate of technical substitution is actually the rate at which…

Q: The total cost of producing 25 tons of butter is 45000. If the average variable cost is $775, then…

A: TC(Total) is the cost which is incurred by a firm in producing some specific level of output. It is…

Q: Find total cost if fixed cost and variable cost are $300 and $100 respectively

A: The data presented in the question above is:- Fixed cost of firm = $300 Variable cost of firm = $100…

Q: When a firm produces 600 widgets with total cost of $1,300 and fixed cost of $800, what is the…

A: The variable cost per unit is the average variable cost.To calculate the average variable cost,…

Q: For a cost function C = 100 - 100 - 02 the average variable cost of producing 20 units of outout is

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Find the Average Fixed cost if the Total Fixed cost is 500 and the total number of unit made is 10?

A: Calculate the Average Fixed Cost (AFC) when the Total Fixed Cost (TFC) is $500 and the total number…

Q: The average cost function of a firm is:- 2Q² - 350 Find the total cost function

A: The data presented in the question above is:- We are given with the average cost function of a firm…

Q: A company's cost function is given as:  TC=25+30Q+0.2Q^2   What is the equation for the company's…

A: In the short run, a firm incurs two types of cost: fixed cost and variable cost. Fixed cost (FC):…

Q: The fixed cost of a firm is $4000 and variable cost is $2000 what would be the total cost of the…

A: The total cost of a firm is all costs that a firm bears whether it is fixed cost or variable cost.…

Q: Cost, revenue, and profit are in dollars and x is the number of units. If the daily marginal cost…

A: Answer to the question is as follows:

Q: Find the average fixed cost when the total fixed cost is 156 and the number of quantity is 12 units?

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Q: Calculate the total cost function if average cost function is :- 36Q3 - 5Q2 + 10

A: We are given with the average cost function:- 36Q³ - 5Q² + 10 Also we know that :- TC = AC * Q

Q: Cost, revenue, and profit are in dollars and x is the number of units. If the daily marginal cost…

A: Given, Marginal cost (MC) = 4x+150 Fixed cost (FC) = $600 Here MC = dCdX

Q: If the average variable cost is OMR 74 and total fixed cost is OMR 100 at 5 units of output, then…

A:

Q: Find average cost if output produced is 24 units and the total cost is $8700

A: The data presented in the question above is:- Output produced by firm = 24 units  Total cost = $8700…

Q: Find the cost function for the marginal cost and fixed cost. C = Marginal Cost Fixed Cost (x = 0) dC…

A: The marginal cost function is given below:The fixed cost of production (at x =0),  is…

Q: Assume that it costs a company approximately C(x) = 400,000 + 160x + 0.003x² dollars to manufacture…

A: Marginal cost is defined as the change in total production resulting from producing an extra unit of…

Q: how to calculate total cost analysis

A: Objectives to calculate total cost analysis : Understand and define the critical variable and fixed…

Q: how do you know the total variable is 50 when finding the total fixed cost

A: TC = AC * Q ------------------- MC is a change in TC due to changing quantity by one unit.  MCn =…

Q: Graph the average total cost by plotting for three points only, Q = 1, Q = 5, Q = 14. The graph…

A: Total cost is the cost of producing total no. of goods.  Total cost includes variable cost and fixed…

Q: It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake.A cupcake is sold for…

A: Total cost refers to the cost of all inputs needed to produce with the given unit of output.

Q: Calculate the average cost when the total cost for the production of 3 units is $75

A: # Average cost is given as the ratio of total cost and the total quantity produces. That it:- AC =…

Q: manufacturing plant has a short-run cost function of C(q) = 100q 72 +0.2q³ + 450. What is the firm's…

A: Short Run Cost is the cost which has short-term inferences in the assembling strategies, i.e., these…

Q: Calculate the total fixed cost incurred by the firm if total cost is $700 and the total variable…

A: We are given with the information as:- Total cost (TC) = $700 Total variable cost (TVC ) = $470 We…

Q: Show that the r/ship between production function and cost function.

A: Production function demonstrates the output level that can be produced using different quantities of…