Consider the following cost curve for a firm in a competitive industry where the market price equals $200. C = 9³ +49 + 750. What is the firm's marginal cost (MC)? MC = (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g., a superscript can be created with the ^ character.)
Q: 25. Shortages and black markets largely came to an end in the Soviet Union because ____________: a.…
A: In a free market, forces of demand and supply helps the market to remain in equilibrium. When the…
Q: 3 For products A and B, the joint-cost function for a manufacturer is c=; 92 +692 and the demand…
A: Production and consumption are both significant economic activities. As is well known, one of the…
Q: Barney decides to quit his job as a corporate accountant, which pays $11,000 a month, and goes into…
A: Implicit cost is the foregone income that could have been earned if resources were invested…
Q: Calculate the economic impact of the India Premier League. a) Evaluate the net economic change…
A: The Indian Premier League (IPL) is a professional Twenty-20 cricket league that was established in…
Q: We first want to understand why the issue of climate change requires government inter- vention and…
A: China's utility function captures the phenomenon that reducing CO2 emissions can result in a…
Q: Hayden Inc. has a number of copiers that were bought four years ago for $39,000. Currently…
A: Net cash flows are the total amount that a business makes or loses over a specific time period. A…
Q: Give typing answer with explanation and conclusion Workers in a certain occupation will soon…
A: Supply and demand are the fundamental concepts in economics that describe how markets work. Demand…
Q: 1. You purchased a building five years ago for $100,000. Its annual maintenance expense has been…
A: The AW method offers a prime computational and interpretation advantage because the AW value…
Q: Assuming two factors of production, labor (L) and capital (K), a firm will minimize the cost of…
A: Marginal product is the change in total product due to change in input used. Marginal product of…
Q: By saving a larger portion of Norwegian GDP than it did before, Norway will have Question 27…
A: The national income(NI) identity for a closed economy is defined as, Y = C + I + G where Y is the…
Q: A rise in the equilibrium wage rate will result in what change in the ADIAS model? (Pick 1 Answer)…
A: Aggregate demand is the sum of consumption, investment, government spending and net export.…
Q: a. What increase in aggregate demand is necessary to achieve this? $ 15 billions. b. If successful,…
A: Aggregate demand refers to the total demand for commodities and services made by all the economic…
Q: Can private-sector labor unions be revived, and if so, what would a new organizing and…
A: Private-sector labor unions can be revived, but it would require significant changes in the way…
Q: What is the equilibrium payoff of player 1? PLAYER 1 Up Down PLAYER 2 Left 35, 35 18, 28 Right 58,41…
A: Dominant strategy is the strategy that yields higher payoff and the strategy does not change with…
Q: Raas Hardware is adding a new product line that will require an investment of $1,512,000. Managers…
A: Payback Period: Payback, or the time period required for an asset to pay for itself, is the amount…
Q: What is the implications of FDI on the economy of India?
A: An investment made in a company that is located in another country by a foreign corporation or…
Q: Solve the equilibrium for the two equations P = Qs² + Qs +32 and P = -Qd² - 4Qd + 200
A: Given the below: P = Qs2+Qs+32 P = -Qd2-4Qd+200
Q: Currently many forecasters are predicting a recession for this year. What type of fiscal should the…
A: In order to affect economic conditions, particularly to stabilize economic volatility and foster…
Q: Suppose the economy of Mistania has an adult population of 600 million people. 43 million workers…
A: When individuals are eager and able to work but are unable to find employment despite actively…
Q: Use the diagram below to answer the question. Capital 160 140 120 100 8 60 40 20 B U To D Isoquant…
A: Labor Capital Ratio (L/K) is a measure of amount of labor employed to every unit of capital employed…
Q: = 4. Calculate the present equivalent at i 15% per year using arithmetic gradient interest factors…
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: 2. A present obligation of $20,000 is to be repaid in equal uniform annual amounts, each of which…
A: Present worth (also known as present value) refers to the current value of a future stream of cash…
Q: Suppose that the perfectly competitive market for wheat spaghetti is in long-run equilibrium.…
A: Demand and supply are the two fundamental forces that determine prices and quantities in a market…
Q: 29) Although they realize that it's not universally true in reality, economic models assume that…
A: Optimal consumption bundle: The optimal consumption bundle is such that at that bundle the…
Q: Bob and Ray are thinking of buying a sofa. Bob's utility function is Ug(S, MB) (1 + S) Mg and Ray's…
A: In economics, a reservation price refers to the minimum value that a seller will be accepting as the…
Q: What is the present equivalent of a uniform series of quarterly payments of $4,500 each for 8 years…
A: This cash flow contains two uniform series, one is $4500 paid quarterly for the first 8 years and…
Q: In the wake of Silicon Valley Bank's collapse in March 2023, what's the most likely thing that will…
A: In economics the contagion effect refers to a situation where economic breakdown in specific economy…
Q: Susan has a choice between two perpetuities payable at the beginning of every month. The first pays…
A: Given:Growth Rate (g) = 1% per monthInterest (i) = 20%/12 = 1.667% First annuity: $100 today and…
Q: 6. Aggregate demand, aggregate supply, and the Phillips curve In the year 2027, aggregate demand and…
A: Given information In 2027, the price level will be 102. In 2028, if the aggregate demand is ADA,…
Q: At what rate of interest will an investment double itself in 10 years?
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: What does poverty look like in Ethiopia country?
A: In order to meet their fundamental requirements for food, shelter, clothes, healthcare, and…
Q: A. Investment in "infrastructure" represents spending on: O roads, bridges, canals, etc. O…
A: Infrastructure refers to the basic economic facilities that are required to achieve economic growth.…
Q: According to following diagrams determine the sensitivity parameters of Okun's and Phillips…
A: Okun's Law is an empirical relationship between changes in the unemployment rate and real GDP. It…
Q: True/False Monopoly market can be created due to the cartel.
A: A market structure known as a monopoly occurs when there is only one seller or manufacturer of a…
Q: Analyze below Cash Flow and compute for the unknown value. I 1 Y = $ Blank 3 Z = $ Blank 4 Blank 1 2…
A: Cash flow displays the organization's liquidity as well as its cash and cash equivalents. A…
Q: The most recent annual dividend of XYZ Ltd. was $1.80 per share and the required return is 11%. The…
A: Current Annual Dividend(D0) = $1.80 Expected Growth rate of Dividend for the next 3 years(g) = 8%…
Q: 4. What type of game is this? Player 1 / Player 2 A B A 0,0 5,3 a. Cournot game b. Prisoner's…
A: The game theory explains the market where the player in the economy chooses to play the strategy…
Q: What is the present equivalent of a uniform series of quarterly payments of $4,500 each for 6 years…
A: Given: Interest rate = 8% compounded bimonthly Quarterly payments @ $4,500 each quarter for 6 years…
Q: Price level AD Potential GDP Yfull AS Real GDP Consider the economy represented by the AD/AS diagram…
A: According to Keynes, the level of national income and employment is determined by aggregate demand…
Q: in 2-3 paragraphs pick one business formation type to describe (sole proprietorships, partnerships,…
A: Let's take a closer look at LLCs, which are a popular business formation type. Limited Liability…
Q: Compare and contrast the monopoly and oligopoly market .
A: A market is a system where buyers and sellers can trade commodities, services, or other valuables.…
Q: Diminishing returns to physical capital implies that, when the human capital per worker and the…
A: Diminishing returns refers to the disruption of the entire process of production as additional units…
Q: n the 1970's in the U.S., what happened to inflation and unemployment? What caused this to happen?…
A: Stagflation: a period of high inflation and high unemployment occurring simultaneously, which is…
Q: Which of the following is a reason why firms in a perfectly competitive market have no influence…
A: A perfectly competitive market has many firms. All the firms are price takers, they cannot influence…
Q: Looking at the "The gains from Trade" what are the major current and future problems facing the…
A: The benefits that people, businesses, and nations can get from engaging in international trade are…
Q: . Make a written report about Consumer Aggregate 2.Adv and Disadv of consumer aggregate 3.Make a…
A: The total wealth, income, and spending of all individuals within an economy is known as the consumer…
Q: Suppose that the shrimp industry is in long-run equilibrium at a price of $5 per pound of shrimp and…
A: In the long run, firm is producing output at the point where the average total cost tis minimum and…
Q: Draw the demand, marginal costs and revenue on the same graph and show the consumer surplus,…
A:
Q: Shen wants to both purchase a new laptop and go Florida for spring break. The computer is priced at…
A: Money is one of the most important medium to buy and sell goods and services and pay debts and other…
Q: 1. According to the given scatter diagram, answer the following questions. Change in Unemployment…
A: Okun's law states that the rate of change in unemployment and GDP growth rate is negatively related…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- The cost function of a UC Irvine donut shop is: C(q)=10+ 10q + q?, so the marginal cost function is: MC= 10+ 2q. In these equations, q is the output in terms of boxes of donuts. (a) What is the firm's average cost curve? (Note: just write the equation, no graph necessary) What is the firm's average variable cost curve? (Note: just write the equation, no graph (b) necessary) (c) If the price of a box of donuts is $20, what is the optimal output for this firm?Month (m): 4 Day (d): 1 Use the two numbers above, m and d, to complete the cost function for a perfectly competitive firm: Cost (q) = m q2 + d = (30) For a cost function like yours, Marginal Cost (MC) = 2 m q . Specifically, what are the following for the cost function you wrote out above? Fixed Cost = Average Total Cost = Cost (q)/q = Variable Cost = Average Fixed Cost = FC/q = Marginal Cost = 2 m q = Average Variable Cost = VC/q = (15) Fill in the table with your values from your cost function. q Total Cost AVC AFC ATC MC 0 0 0 -- -- -- 1 2 3 4 5 625) If a firm has the cost function C(q) = 5q² + 20q + 180 and the marginal cost function MC(q) = 10q + 20, at what quantity is its average cost minimized?
- We expect the marginal cost to increase as this firm produces more computers. But when the firm shifts from producing 1 to 2 computers, marginal cost falls. What might explain this?Douglas Fur is a small manufacturer of fake-fur boots in Chicago. The following table shows the company’s total cost of production at various production quantities. Fill in the remaining cells of the following table. On the following graph, plot Douglas Fur’s average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $200, so you should start your ATC curve by placing a green point at (1, 200). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $80, so you should start your MC curve by placing an orange square at (0.5, 80).) Note: Plot your points in the order in which you would like them connected. Line segments…A firm currently produces 500 units at a price of $40. If it earns $1,500 profit, what must the average cost be? Note: The formula for Profit = Quantity X (Price - Average Cost) Provide your answer below:
- Suppose a firm faces a cost function of C = 8 + 4q + q^2, so that its marginal cost is MC=4 + 2q. a) What is the firm's fixed cost. F? b) What is the formula for the firm's variable cost (VC), Average Cost (AC), and Average Variable Cost (AVC)? c) On a diagram, draw the AC, AVC, and MC curves.Douglas Fur is a small manufacturer of fake-fur boots in Dallas. The following table shows the company’s total cost of production at various production quantities. On the following graph, plot Douglas Fur’s average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $155, so you should start your ATC curve by placing a green point at (1, 155). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.A firm has a fixed production cost of $4000. For the first 100 units of production, the firm has a marginal cost of $50 per unit produced. Producing more than 100 units has a marginal cost of $70 per unit produced. The firm cannot produce more than 150 units. How much does it cost to produce at q=0? at q=50? at q=100? at q=125? at q=150? Graph the firm’s marginal cost function
- Using the figure above, what is the total cost for the firm?Douglas Fur is a small manufacturer of fake-fur boots in San Diego. The following table shows the company’s total cost of production at various production quantities. On the following graph, plot Douglas Fur’s average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $210, so you should start your ATC curve by placing a green point at (1, 210). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $90, so you should start your MC curve by placing an orange square at (0.5, 90).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.***What would this look like in EXCEL, Graph and Table*** The cost function for Acme Laundry is: TC(q)=10+10q+q^2 so its marginal cost function is: MC(q)=10+2q where q is tons of laundry cleaned. Derive the firm's average cost and average variable cost curves. What q should the firm choose so as to maximize its profit if the market price is p? How much does it produce if the competitive market price is p = 50?