how do i find the slope of C? The figure to the right shows a monthly cost curve for the production of Good X.48-45-a. Calculate the slope of this non-linear function at points A, B, and C.42-The slope at point A is 0.75 . (Enter your response rounded to two decimalplaces.)39-36-33-The slope at point B is 1.50'. (Enter your response rounded to two decimal30-places.)27-24-The slope at point C is(Enter your response rounded to two decimal places.)21-18+15-12-3-2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 3229Monthly Number of Units of Good X Produced (thousands)Note that this figure is not drawn to scale.(.....Monthly Cost of Production of Good X (thousands of $)

Slope The slope is used to describe the steepness and direction of lines in the graph. and the…

Answered: The figure to the right shows a monthly…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section21.3: Production

Problem 3ST

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Suppose the relationship between your study time and your grade on a History midterm is given by the following table: If you study for Your grade will be 4 hours 80 5 hours 90 6 hours 93 a) What is the "marginal grade improvement (MGI)" of the 5th hour of studying? b) What is the "marginal grade improvement (MGI)" of the 6th hour of studying? c) Why might the MGI be diminishing?
The profit from the supply of a certain commodity is modeled as P(q) = 71ge-0.29 dollars where q is the number of units produced. 0 ≤ q ≤ 100 (a) Write an expression for the rate of change of profit. (Be sure to use q as the independent variable.) P'(q) dollars per unit (b) At what production level in the domain 0 ≤ q ≤ 100 is the rate of change of profit zero? (Round your answer to the nearest whole number.) q= units (c) What is profit at the production level found in part (b)? (Round your answer to two decimal places.)
could you please answer with pen and paper?
Demonstrate the law of diminishing yields on a graph by drawing the relationships on TP, AP and MP curves and describe it with a sentence.
A rental car company has a special deal on one of the available rentals. Let C be the cost, in dollars, of the rental car as a function of the distance d, in miles, it is driven in one day. A. What would the value C(75) represent in this context? B. Is function Cincreasing or decreasing? What are the units of the slope in this situation? C. Identify any maximum or minimum values of the function. What do they represent in this situation? State any assumptions that you make. D. Would the graph of C have any intercepts? What would they represent in this situation? E. Write a rule for C(d), and sketch a graph of the function.
Find the elasticity of scale and the elasticity of substitution for the CES production function (x1; x2) = (x1rho + x2tho 1/P, where 0 * p > !!!
A printer quotes a price of $7, 500 for printing 1,000 copies of a book and $15, 000 for printing 2,500 copies.Assuming a linear relationship and that 2000 books are printed:i. Find the equation relating the total cost y to x, the number of books printed.ii. What is the variable cost ?iii. What is the fixed cost ?iv. What is the variable cost per book ?v. What is the average cost per book ?vi. What is the marginal cost of the last book printed ?
Given the following data on input and output levels. Suppose the output price is $5 and input price is $10. Find the values of APP and MPP when X = 6: X 0 2 4 6 8 10 12 Y 0 100 250 450 600 700 750 50 and 150 6 and 200 100 and 75 75 and 100
Evaluate the following question. Show your work.
1. The cost in dollars, of producing x golf balls is given by: C(x) = 0.35x + 64 000 The average cost per golf ball is given by C(x) 0.35x + 64 000 Č(x) 1.1 Find the average cost per golf ball of producing а. 2000 b. 20 000 c. 200 000 1.2. What is the equation of the horizontal asymptote of the graph of C ? Explain the significance of the horizontal asymptote as it relates to this application.
Question B1 A firm produces a good, q according to the production function q = 2K0:2 L°0.8. The cost of a unit of labor is £5 and the cost of a unit of capital is £40. The firm is currently producing 160 units of output and has determined that the cost- minimizing quantities of labor and capital are 160 and 5 respectively. a. Graphically illustrate this situation on a graph using isoquants and isocost lines. Explain intuitively why there is such a difference between the capital input and labour input. b. The firm now wants to double output to 320 units. If capital is fixed in the short run, how much labor will the firm require? Illustrate this point on your graph and find the new cost associated with this level of labour and capital. c. Graphically illustrate how the cost-minimizing level of capital and labor will differ from your answers in a. d. If the marginal rate of technical substitution is 4K/L , find the optimal level of capital and labor required to produce the 320 units of…
Cost, Revenue & ProfitFor these problems, xx will represent the number of items and yy will represent the money.The fixed costs for a certain item are $215 per week. The cost to produce each item is $2 per item.Using this information, what is the cost equation? Give your answer in slope-intercept form:y=y= The retailer intends to sell each item for $13/item.Using this information, what is the revenue equation? Give your answer in slope-intercept form:y=y= If in this week 13 items are made, and all items are sold in the week, what are the total costs to the retailer?Cost = $What is the revenue from selling 13 items?Revenue = $Finally, what is the profit for this retailer?Profit = $Box 1 & 2: Enter your answer as an expression. Example: 3x^2+1, x/5, (a+b)/cBe sure your variables match those in the question.

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