The profit (in dollars) from the sale of x lawn mowers is II(x) = 70 x-0.07 x2 - 750. The correct interpretation of the marginal average profit of producing 40 mowers is Select one: O a. Can not tell. O b. At production level of 40 mowers a unit increase in production will increase the total profit by $0.40 per mower. O c. At production level of 40 mowers the average profit is increasing at a rate of $0.40 per mower. O d. At production level of 40 mowers the average profit is $0.40 per mower.

The profit (in dollars) from the sale of x lawn mowers is II(x) = 70 x-0.07 x2 - 750. The correct interpretation of the marginal average profit of producing 40 mowers is Select one: O a. Can not tell. O b. At production level of 40 mowers a unit increase in production will increase the total profit by $0.40 per mower. O c. At production level of 40 mowers the average profit is increasing at a rate of $0.40 per mower. O d. At production level of 40 mowers the average profit is $0.40 per mower.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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i need the answer quickly
A Share Zoom TVC TC AVC MC 0. 15 23 30 Answer the following questions:
4.
A firm's production function takes the form: Q(L, K) = min {8L, 6K}, where Q represents output and L and K represent labour and capital, respectively and where w and r give the prices of labour and capital. What would be the expression for the firm's marginal costs? O O O O MC = w + 1/ MC = 6r + 8w MC = W MC 6w+8r W MC = 8 +! 6 + 3r 6w+8r = Q (²= ² + ² )
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