The marginal cost of a company is MC = 100 – 20x + x²,%3D2006and the fixed cost is3.The quantity that minimizes the cost isChoose...The minimum cost isChoose.

Marginal cost is the cost of generating an additional unit of output.

Answered: The marginal cost of a company is MC =…

The marginal cost of a company is MC = 100 – 20x + x2, - 2006 and the fixed cost is 3 ne quantity that minimizes the cost is Choose... e minimum cost is Choose.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 9SQP

See similar textbooks

Related questions

Q: Marginal and Total Costs Quantity Total Marginal (Q) Cost Cost (TC) (MC) 0 15 1 25 2 70 30 3 4 40 5…

A: Total cost refers to the cost of production a firm incurs at different levels of output.Marginal…

Q: Assume the cost of making 30 belts $800 the cost of makin 35 belts $900 and the cost equation is…

A: Marginal cost measures the change in total cost due to a change in quantity produced. Marginal cost…

Q: The cost function of producing Q units of good s.t: C(Q) = 4Q² + 16Q + 40 Write down the average…

A: The average cost is the total cost divided by the total quantity C(Q)=4Q^2+16Q+40 AC(Q)=C(Q)/Q…

Q: What are the fixed and variable cost?

A: Fixed costs are that cost which remains same and incur even when there is no production. Variable…

Q: I am trying to figure out how to do the marginal cost and how to get the total cost answers w what…

A: As per the guidelines, we only answer one question at a time. So, I am answering the first one.…

Q: Surplus A perfectly competitive firm has this short run total cost equation: STC = 4q2 + 81 a. Find…

A: Cost of production is the monetary value incurred on factors of production . There are two types of…

Q: Total cost is 1200.output is 20.fixed cost is 1000.what is variable cost?

A: The concept of total cost is used in practically all business units. The main advantage of using the…

Q: How does the best price change as the unit variable cost changes?

A: A variable cost could be a corporate expense that changes in proportion to production output.…

Q: Use the cost table below to find the following marginal costs. Output quantity Total Variable Cost…

A: The cost structure of a firm determines its productivity. The total cost of a firm comprises of…

Q: 1. Find the total cost if marginal cost MC = 4 q+ 15 and fixed cost FC = 100.

A: total cost, in economics, the sum of all costs incurred by a firm in producing a certain level of…

Q: The total cost to produce hundred motors bikes is $1000. Calculate the average cost of producing the…

A: Given information: Total number of motorbikes = 100 Total cost of production = $1000

Q: Here's the table showing quantity and total cost Q - 0, 1, 2, 3, 4, 5 TC - 8, 9, 10, 11, 13, 19…

A: Given quantities: Q = 0, 1, 2, 3, 4, 5 Total Cost, TC = 8, 9, 10, 11, 13, 19

Q: What is another term for marginal costs

A: Marginal cost refers to the additional cost incurred by firm or a producer when one additional unit…

Q: What is the marginal cost for this product?

A: A cost function refers to the formula that is used to predict the cost that the firm will incur at a…

Q: Government imposes higher tax on tobacco production. Which cost curves will be affected and why of…

A: When the government imposes a higher tax on tobacco production or the output. With this tax…

Q: that the cost to produce 30Tshirts is $112.59, while the cost to produce 40 Assue the cot Csalinear…

A: The marginal cost is the change in the total cost that arises when the quantity produced is…

Q: Why is the average cost a U shape

A: Cost refers to the amount of money required to produce the goods and services by the various factors…

Q: To make a decision about opening a restaurant, what is the relevant cost for Aram? $50 thousand has…

A: Explicit costs are ordinary business expenses that appear in the general ledger and have a direct…

Q: It costs a coat manufacturer $8750 to make 125 coats and it costs $6500 to make 80 coats. Each coat…

A: According to the question, It costs a coat manufacturer $8750 to make 125 coats and it costs $6500…

Q: When marginal cost equals average variable cost, average variable costiv (Click for List) falling…

A: Average variable cost is per unit variable cost on the other marginal cost is an additional cost…

Q: If average cost is incresing as output expands, a marginal cost equals average cost b marginal…

A: The average cost is an important concept in economics and business because it helps firms determine…

Q: When marginal cost equals average toal cost, average total cost, (Click for List) rising at a…

A: Marginal cost is change in total cost divided by change in output. Average cost is the cost per unit…

Q: How profit is different from the incorporating normal profit and when the normal profit is into…

Q: What is the difference between marginal product and marginal cost?

A: The marginal product is the additional output produced by an additional unit of input in the process…

Q: a. Calculate marginal cost using the formula given in the chapter: ATotal cost/AQuantity. Quantity…

A: Ans. ) Given the question, the task is to find the marginal cost, and (change in variable cost /…

Q: Refer to the table below, which presents costs associated with a small business selling cookies.…

A: "When firms produce a product or a service, they incur cost which is known as total costs of…

Question

The marginal cost of a company is MC = 100 – 20x + x²,
%3D
2006
and the fixed cost is
3.
The quantity that minimizes the cost is
Choose...
The minimum cost is
Choose.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

It costs a coat manufacturer $8750 to make 125 coats and it costs $6500 to make 80 coats. Each coat is sold for $250. a. How much is the marginal cost? Round to two decimal places if rounding is necessary. Do not enter a fraction. There is a $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not type any units on your answer). $ b. What is the slope of the Profit function, P(x)? Round to two decimal places if rounding is necessary. Do not enter a fraction. There is a $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not type any units on your answer). $ c. How many coats must be sold in order to break even? Round to the nearest whole number if rounding is necessary. Do not enter a fraction. Only type a whole number (do not type any units on your answer).
Please answer fast please arjent help please
Photo
If average cost is incresing as output expands, a marginal cost equals average cost b marginal cost exceeds average cost c marginal cost is less than average cost d not enough information
Find the attached file.
What is the total revenue when output is 1, total cost is 35, marginal cost is 10, fixed cost is 25, average cost is 35.
Ball Bearings, Inc., faces costs of production as follows:a. Calculate the company’s average fixed cost, average variable cost, average total cost,and marginal cost at each level of production.b. The price of a case of ball bearings is $50. Seeing that he can’t make a profit, thechief executive officer (CEO) decides to shut down operations. What is the firm’sprofit/loss? Was this a wise decision? Explain.c. Vaguely remembering his introductory economics course, the chief financial officertells the CEO it is better to produce 1 case of ball bearings, because marginal revenueequals marginal cost at that quantity. What is the firm’s profit/loss at that level ofproduction? Was this the best decision? Explain
The table below shows the cost of producing model vintage cars for collectors. Instructions: Enter your answers as a whole number. a. Complete the marginal cost column in the table. Vintage Model Car Production Costs Total Fixed Cost Total Variable Cost (dollars) Total Cost (dollars) $2,000 (dollars) $2,000 Marginal Cost (dollars) Output $0 1 2,000 600 2,600 2,000 1,100 3,100 2,000 1,900 3,900 4 2,000 2,900 4,900 5. 2,000 4,150 6,150 b. What is the total cost of producing 4 vintage model cars? 2. c. What is the marginal cost of producing the 4th vintage model car? 2.
To make a decision about opening a restaurant, what is the relevant cost for Aram? $50 thousand has been spent to date on renovating the place. Aram could be earning $ 100 thousand a year as a chef. Additional labor and other costs necessary to open the restaurant equal $ 60 thousand a year. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. $ 160 thousand a b. $ 60 thousand $ 210 thousand $ 110 thousand $ 50 million
Typed plz Please do all parts if not than hang on don't answer than Take care of plagiarism also and high quality
The total cost to produce hundred motors bikes is $1000. Calculate the average cost of producing the motorbikes.
When output increases from 10 to 11, total cost increases from $60 to $65. Fill in the blank. Round to the nearest integer if necessary. The marginal cost of increasing output from 10 to 11 is $ ??