A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q = 360 − p, where q is the number if laundry sinks demanded and p is te price of a laundry sink. a) If we assume that the total cost per day is linearly related to the amount of sinks produced in a day, derive the total cost function of the company? b) Find a function for the average cost of this company.

Q: : The total variable cost of firm X is 100 and its total fixed cost is 20 TL. The firm produces 40…

A: Given information: TVC = 100 TFC = 20 Q = 40 We need to find AFC  The formula for AFC = TFC÷Q

Q: Find the total-cost function c(q) given the marginal-cost function dc/dq below, if the fixed costs…

A: Given data: Marginal cost function, dcdq=1q+8 Fixed cost, FC=$4000

Q: Suppose the total cost function of a firm is given as: TC = 720 - 45Q + 20². Determine the average…

A: Total cost of production is the summation of fixed cost and variable cost . It is the monetary value…

Q: company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500…

A: (a) Total cost is the sum of fixed cost and variable cost.  Fixed cost for manufacturing the sink is…

Q: On the side, the marginal cost (MC) function of a firm is given. As it is known that the fixed cost…

A: Marginal cost is the additional cost a firm incurs when he increases the production by 1 more unit.…

Q: Answer the question on the basis of the following cost data.   Output Total Cost 0 $ 24 1 33 2 41…

A:

Q: Give the formulas for and plot AFC, MC, AVC, and AC if the cost function is      a C = 10+10q (MC =…

A: To Calculate AFC, MC, AVC, AC we use the following formulas. AFC = FC/QMC is the derivative of C…

Q: To maximise profits, a competitive firm has a cost function, C(q) = 4q2 + 95 and produces 33 units…

A: The profit is maximized where the P=MC.

Q: 3. In the manufacture of a product, fixed costs per week are Tk. 4000. If the marginal cost function…

A: Marginal cost is defined as the cost of producing one additional unit.  i.e.  MC = d(C)dq where C is…

Q: C denotes the cost function and x denotes multiplication, Qs denotes the square of Q. C equals to 75…

A: Marginal cost (MC) assesses the cost born by a business unit in producing an extra unit of its…

Q: Q2. Suppose a management accountant of a manufacturing company give you the following information: -…

A: Answer: Given, Price (P) (in OMR) Quantity (Q) (units per month) 1000 (P1) 175 (Q1) 1800 (P2)…

Q: A small business woman has realized that for one of her products, if the price per unit is GH¢20 she…

A: (i) An expression that relates price with output is the demand function which the business woman…

Q: Consider the total cost function, TC = 25 + 6Q - 5Q^2 + 6Q^3 Find the marginal cost (MC) at Q= 6.

A: The total cost function is,  TC = 25 + 6Q - 5Q2 + 6Q3 Marginal Cost (MC) is defined as the change in…

Q: Suppose a laptop manufacturer has the given total cost function and the given total revenue…

A: Here, total cost function and total revenue function are given as: C(x) = 200x + 8000  R(x) = 500x…

Q: The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The marginal cost per…

A: Given data: Total cost function TC=$1000+$6X Quantity X=3000 units

Q: A commodity has a demand function modeled by p= 100-0.5x and the total cost function is C= 50x+37.5…

A: Answer: Introduction: Condition for maximum profit: Profit is maximum where marginal revenue is…

Q: Suppose that the total cost function of a firm is TC = 1000 + 10Q2 c) At the minimum output, what is…

A: The given total cost function is, TC=1,000+10Q2 At the minimum output, the average cost incurred by…

Q: C(Q) = 100 + 20Q + 15Q2 + 10Q3 Based on the cost function, determine: The fixed cost of…

A: Total cost = Fixed cost + Variable cost Fixed cost is that which are not depend on level of output.…

Q: The marginal cost function of a company is given by MC 5+x, and the cost of producing 2 umits is 712…

A: Fixed costs are costs that do not change when sales or production volumes increase or decrease.Fixed…

Q: Consider the total cost function, TC = 25 + 6Q - 5Q^2 + 6Q^3 Find the marginal cost if firm want to…

A: Marginal cost is nothing but the cost incurred to the firm when they want to produce additional unit…

Q: A firm is producing 20 units with an average total cost of $25 and marginal cost of $15. If it were…

A: Costs are the expenses that firms have to incur in all of their production activities.

Q: what is the ordered pair ?

A: The break even point in any business is where your revenue is just equal to your expenses. The cost…

Q: As a production process requires labor L and capital K, q = F (L, K). The wage for a labor is $500,…

A: The isoquant line shows the different combinations of factors of production required to produce a…

Q: The price-demand equation and the cost function for the production of table saws are given,…

A: (Since there are many subparts in the question, we are going to answer the first three subparts…

Q: The profit, P(x), generated after producing and selling x units of a product is given by the…

A: Given, The quantity of roast beef sandwich = x The total cost per week represent by = C(x) The fixed…

Q: . The monthly fixed cost of a company which produces basketball is RM 100 and the variable cost per…

A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: Let p = 23 - Vx and C(x) = 268 + 4x, where x is the number of garden hoses that can be sold at a…

A: Production is the process of using the factors of production to make useful output. Cost refers to…

Q: For the cost function C(Q) = 500+12Q+4Q2+Q3, what is the marginal cost of producing the eighth unit…

A: Cost is a function of the quantity produced.  It measures the cost incurred in the production of…

Q: A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500…

A: According to the question given, the daily cost schedule of the laundry sink manufacturer has…

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: Given the following Cost Function: C(q) = 100 + 50q – 10q + q^3. Find the equations for Total…

A: Total variable cost (TVC) is that cost which changes as the level of output changes. Eg: Piece…

Q: Given the cost function ,  TC = 4q2 + 9 - calculte marginal cost ?

A: Marginal cost is the cost incurred when producing one additional output.

Q: Consider the following function: Ĉ = 0.03q + 6 + 200/q - determine the approximate cost to increase…

A: Marginal cost is the change in the total cost due to the increment in quantity produced by one…

Q: define total fixed costs

A: Cost refers to the expenditure incurred in producing a good by a producer. Cost is classified as:…

Q: Find the total-cost function c(q) given the marginal-cost function dc/dq below, if the fixed costs…

A: Given data: Fixed cost is $4000 dcdq=1q+8

Q: A firm’s estimated long-run total cost function is LRTC = 160Q - .6Q2 + .002Q3.  Suppose the firm is…

A: Cost elasticity shows the degree of response to a change in output due to a change in cost. Given…

Q: Consider a simple three-step manufacturing process as illustrated in the figure given. Assuming the…

A: Demand is a monetary guideline alluding to a purchaser's craving to buy labor and products and…

Q: suppose the cost function is given as C = 135 + 75Q – 15Q2 + Q3. Prepare a cost schedule (table)…

A:

Q: orderd pair ?

A: The given values are as follows.

Q: If the production function is q = min{L, K/3} and the price of L is $3 per unit (w=3), and the price…

A: Given  Production function q=minL,K/3              ... (1) Price of labor (w) = $3 Price of capital…

Q: In the following problem, c represents the average cost per unit, which is a function of the number…

A: Given: c=0.001q2-0.5q+50+7000/q q=15,q=25

Q: If a firm’s total cost function is given by the formula: TC = 400,000 + 4Q, where the fixed costs…

A: Here, given information is: Total cost function: TC = 400,000 + 4Q Fixed cost on plant and…

Q: The total cost of producing the first q items is given by the formula C(q) = -2q^3 + 60q^2 + 1000…

A: Given: Total cost function C(q) = -2q3 + 60q2 + 1000 First, we will find the average cost function…

Q: Given a cost function C(x), which returns the total cost of producing x products, the average cost…

A: Total cost function  C(x) = 80x+150

Q: Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: A firm’s estimated long-run total cost function is LRTC = 160Q - .6Q2 + .002Q3.  Suppose the firm is…

A: Cost elasticity shows the degree of response to a change in output due to a change in cost. Given…