Suppose marginal benefits and marginal costs are given by B(Y) = 100 − 16Y and C(Y) = 20Y. What level of Y will yield the maximum net benefits?

Q: The productivity of a certain country with the utilization of x units of labor and y units of…

A: Given, ​f(x,y)=100x0.65y0.35

Q: hich of the following is an example of an implicit cost associated with an action? - the cost of…

A: Explicit cost is the actual monetary expenditure incurred by a business or individual in doing an…

Q: In the figure above, which of the following statements makes sense? Group of answer choices A)…

A: For the production of the goods and services , firm incurred some cost . There is mainly 2 type of…

Q: If a cost function is C(q) = 2q3 - 6q2 + 20q • what is the fixed cost? What is the variable cost? •…

A: Economies of scale refers that when the cost per additional unit is decreasing due to increasing in…

Q: For the cost function C(Q) = 100 + 4Q + 19Q2 + 2Q3, what is the marginal cost of producing the…

A: Answer to the question is as follows:

Q: Consider the following cost function. a. Find the average cost and marginal cost functions. b.…

A: Average Cost is the per unit cost while marginal cost is the change in total cost for next unit

Q: A farmer can produce f(x,y) = 208-√4x² + y² units of produce by utilizing x units of labor and y…

A: To calculate the marginal productivity of labor at a specific point, we can take the partial…

Q: Part 1 of 2 40%, 2 of 5 points Points: 0 of 1 Save The marginal cost of a product can be thought of…

A: To minimize the marginal cost of producing digital cameras, we need to find the minimum point of the…

Q: 1. If the average cost of a plant to produce a "q" unit is explained by the functions below this: C…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer one question at a…

Q: Where average costs of production are lowest when all output is produced by a single firm

A: Average cost curve: It is a cost bend which is commonly U-shaped. Average variable cost (AVC) is…

Q: dollars. C'(x)=15+ 500 X + 1 If the fixed costs are $4,000 per week, find the cost function. What is…

A:

Q: Joey operates a lemonade stand. His cost of the lemons, sugar, and water per 8 oz. glass is $0.15.…

A: The total cost of a firm is determined not just by the fixed costs but also the marginal costs of a…

Q: The marginal cost of producing the xth box of light bulbs is 4 + dollars per box. Determine how much…

A: Given: Marginal Cost (MC)of xth element : 4+x^2/1000 dollars per box Total Cost(TC) of xth element:…

Isocost and Isoprofit Curve Analysis

An isocost curve in the production theory that is a crucial part of economics depicts different combinations of factor inputs at a given market cost. In other words, this shows all the combinations of production factors that cost the same for the firm to employ. Usually, this can be depicted as a downward sloping straight line when the firms act as the price-takers in the factor markets. The slope of this mainly depicts the relative prices of different production factors.