The average total cost of the cake producing firm is 2.5 OMR and total cost of output is 450 OMR, then the quantity of production will be a. 2925 b. 180 c. 100 Od. 1900
Q: 10. If the total cost function for a product is given by: TC - 1500 + 3Q - 10 Q² + Q° And if the…
A: Given: Total cost function is: TC=1500+5Q-10Q2+Q3
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Q: TP = 500 kº.7L0.4 B = 50,000 P₁ = 300 P₁ = 500
A: We have isocost equation as B = K*Pk + L*PL
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A: Since you have asked multiple questions, we will solve the first question for you. If you need any…
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A: ATC = TC / Q = (200 / Q) + 5
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A:
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A: We are going to use profit maximization method to answer this question.
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A: y = Az1a z21-a C( p, y) = yp1a p11-a B
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A: here we find the average total cost and choose the correct option which are as follow-
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A:
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A: Marginal cost (MC): The marginal cost is the additional cost of producing additional unit of output.
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A: here we calculate the cost of production and choose the correct option which are as follow-
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A: As given Production Function is q = 100L0.8K0.4 Also capital is fixed at 20 units that means K = 20
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A: Q = K0.3L0.3 where we take α = 0.3β = 0.3
Q: Define the term Manufacturing Costs?
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A: Total Fixed Cost = 15
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- A firm has the following information on production Q.6 and costs from past data: Output Total Cost (ТC) (Y) 6. 12 18 9. 2775 5361 8199 If the total function is known cost to be ТС - аY + br+kY+ f. and the demand for the %3D product of the firm is Y = 320- (1/2). P answer the following: Determine the coefticients of the cubic cost function. Derive all cost and revenue curves and the profit function. Show that the MC cuts the AVC when AVC is at its minimum point. Plot the relevant graph indicating all points. Calculate the break even and profit maximizing levels of oulput and price. What is the relationship between price, marginal revenue and own price elasticity of demand at maximization point. the profitSuppose a firm produces 20 unit of output per month and has a total variable cost of R3000 per month. If its average fixed costs are R400 per month, what are its total costs per month?Please refer to the figure below. The equation for p = 105-0.005D 25,000+65D Y D (units sold) How much is the fixed cost? ОА. BD65 о В. BD22,500 ОС. BD12,500 O D. BD25,000 Cost/Revenue
- If he wants the average cost of production to be $1, how many lures would he e) have to produce in one month? e)_ If he wants to make a profit of at least $4000 per month, what is the f) minimum number of lures he would have to produce if he sells every lure he produces for $4? f)_Suppose that the production function takes the form X = min(10L, 5K) and that a competitive firm faces a wage rate of £60 per week and a weekly capital rental of £32. (a) How much must the firm spend to produce 100 units of output, and what is the average cost of production when X = 100? (b) What is the incremental cost of producing the 101st unit of output? (c) What happens to the cost of producing 100 units of output if the wage rate and the rental cost of capital rise by 25 per cent each? What happens to the average and marginal cost? (d) What happens to the cost of producing 100 units of output if the wage rate increases by £1, or if the cost of capital increases by £1?If marginal cost for 7th unit is given by the function:- 4Q2 - 3Q + 20 Calculate the marginal cost in dollars
- If AFC is $9 at an output of 100 units, and ATC s $11 at the same output, it follows that: TVC is $200 AVC is $2 all of these Total Cost is $1100Consider a power system with three generators. Each generator has a piecewise linear cost function defined by the following points. Generator 1 Generator 2 Generator 3 Production (MWh) 100 200 300 400 200 400 600 800 100 400 700 1000 Cost ($) 915 1760 2635 3540 1870 3530 5230 6970 1060 3460 6040 8800 The min/max production of each generator corresponds to the min/max production values in the table (i.e., Generator 1 produces at least 100 MWh and no more than 400 MWh). (a) Plot the inverse supply function for this system. (b) If the demand is completely inelastic and equal to 1600 MWh į. compute the electricity price. ii. calculate the gross consumer surplus, consumer surplus, the producers revenue, the producers profit, and the global welfare. iii. determine the production level, cost, revenue, and profit for each generator.firm’s LRTC = 600Q - .5Q2 + .001Q3. At what level of output does the firm experience minimum efficient scale? This problem can be solved either by a spreadsheet, Excel Solver or otherwise
- a) Calculate the marginal product (MP1) for the mixers. Does the production function have increasing, decreasing, constant marginal product for the mixers? b) Suppose in the short run the amount of machines she has is fixed at 27. How many mixers should she use? How many baklavas will she produce? How much profit will she make? c)Usinag an isoprofit, as well as the production function, draw a diagram of your soltuion from part (b). carefully label all the slopes and intercepts. d) In the long run, how many mixers should she use? How many machines? How many baklavas will she make? e) Suppose that the government decides to provide a $1 subsidy per mixer. What is the profit-maximizing amount of input to use now?A manufacturing plant has a short-run cost function of C(q) = 100q – 4q2 + 0.2q3 + 450. %3D (a) What is the firm's short-run fixed cost and variable cost function? (b) Calculate MC, AVC, AFC, and AC ECONSLIProblem1: Given the following information, you must complete the table: Total fixed cost is P220 per period. Units of the variable inputs cost P100 per unit per period. Units of Variable input 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Total Product 100 250 410 560 700 830 945 1,050 1,146 1,234 1,314 1,384 1,444 1,494 1,534 1,564 1,584 1,594 Fixed Cost Variable Cost Total Cost Average Fixed Cost Problem 2: Graph the fixed cost, variable cost, and total cost curves on one sheet of paper. Problem 3: Graph the average fixed cost, average variable cost and average total cost and marginal cost curves on another sheet of paper. ( Average Variable Cost Average Total Cost Marginal Cost