Marginal cost is given by 20+ 10Q 12Q2. Fixed cost is 100. What is the average cost? OA. 100 -3Q2+20Q+20+ OB. -4Q2+5Q+80+ OC-3Q2+10Q +80+ OD 4Q2+5Q+20 + 20 Q Q 20 Q 100 Q ـق | IA C 98
Q: QL TP AP MP TFC TVC TC MC AFC AVC |ATC 0 0 1 5 2 12 3 22 4 30 5 37 6 42 7 44 In the above chart…
A: Law of Diminishing Returns:The law of diminishing is seen to operate in the short-run production of…
Q: Analysse how ethical business practices and corporate social responsibility initiatives can…
A: Ethical Business, CSR, and Sustainable Economic DevelopmentEthical business practices and Corporate…
Q: The table given below shows the average total cost of production of a firm at different levels of…
A: Marginal cost basically refers to the change in the total cost when one more unit of output has been…
Q: (i) Find the own price elasticity of demand for X, the cross-price elasticity of demand for X with…
A: Demand elasticity measures how sensitive a good's quantity desired is to variations in its price. It…
Q: A firm has monthly average costs, in dollars, given by 44,000 +200+x where x is the number of units…
A: Maximum profit occurs when a company maximizes the difference between its total revenue and total…
Q: 3. Suppose a consumer has preferences between two goods that are perfect substitutes. One can change…
A: Perfect substitute goods refer to those goods that provide the same satisfaction to the consumer in…
Q: 1. "Cost functions can be very important for determining the structure of a market." Discuss this…
A: A cost function is a mathematical equation that expresses the total cost of production for a firm as…
Q: The table below shows the willingness to sell a math textbook by each of 4 students. If the price of…
A: The demand curve is the downward-sloping curve. The supply curve is the upward-sloping curve.The…
Q: What would be appropriate government action to close an inflationary gap? Multiple Choice Use policy…
A: An inflationary gap arises in an economy when total spending (aggregate demand) outstrips the total…
Q: What happens in the market for beach towels,now that the season is over? Graph and explain
A: Demand refers to the quantity of goods or services that a consumer is willing and able to buy at a…
Q: Consider a small town with only three families, the Johnson family, the Marshall family, and the…
A: Willingness to Pay:Willingness to pay refers to the maximum amount of money an individual or entity…
Q: 5. What does the income elasticity of demand measure? a) The responsiveness of quantity demanded to…
A: DISCLAIMER “Since you have asked multiple questions, we will solve the first question for you. If…
Q: 1/3 1/3 Bridget's Widgets produces widgets with the production function, y=x1 x2, where x1 is the…
A: Production function: y=x11/3x21/3 ..... (1)Here x1 and x2 denote quantity of labor and…
Q: Firm B has a comparative advantage in butter, and absolut Firm B has a comparative advantage in…
A: The notion examined in the question is founded on the economic concepts of absolute and comparative…
Q: For each form of government spending, indicate whether it represents consumption or investment.…
A: In economics, consumption refers to the use of goods and services by people to satisfy their…
Q: 2. A firm has a cost function of C = 1000+ 20Q + 1/10Q² and has a demand function as shown in the…
A: The cost function is the mathematical relationship between the output and the cost of production. It…
Q: Country Lumber Production Oil Production (using 50 worker hours) (using 50 worker hours) United…
A: The production possibility schedule represents the bundles of commodities an economy can produce at…
Q: An analyst for FoodMax estimates that the demand for its "Brand X" potato chips is given by: In…
A: A demand function is a mathematical equation that shows the relationship between the price of a good…
Q: Musashi plays the cello as part of a string duo and advertises booking opportunities using brochures…
A: The optimal combination is that combination of two goods that when consumed gives the maximum…
Q: 14. For the United States, the most beneficial eventual overall solution to privacy challenges is:a.…
A: The most beneficial eventual overall solution to privacy challenges in the United States is a…
Q: Suppose you have the following disposable income and consumption data for an economy, as shown in…
A: Saving is the level of disposable income that is not used for consumption.
Q: In long run equilibrium, this competitive firm will face a price of $6, 200 units $10; 250 units…
A: Competitive market is where there are large number of firms and each firm is competing with the…
Q: The Golden State Bank has total cash reserves of $110,000, deposits of $200,000, and loans of…
A: Money, its uses, and its effects on the economy are the subjects of monetary economics. Its main…
Q: the information in the table to answer the following questions. All numbers are in billions of 2012…
A: [Note: As the answer of equilibrium GDP is correct, the answer of MPC only is given]It refers to the…
Q: Only typed solution
A: The objective of the question is to identify the correct statement(s) about the relationship between…
Q: 2. (a) (b) What are the definitions of Giffen goods and inferior goods? According to the…
A: Demand is the willingness to pay or consume a certain good that is being produced and sold in the…
Q: Which of the following is correct in respect of “money as a medium of exchange”: ch of the following…
A: Money is a medium of exchange that is broadly acknowledged in transactions including goods,…
Q: Two firms are competing on price. If they have the same price, they share the market otherwise the…
A: Nash equilibrium is a concept in game theory that describes a situation in which each participant's…
Q: Give an example of the time inconsistency problem applied to the relationship of a married couple.
A: Within the study of behavioral economics, the concept of time inconsistency shows the phenomenon…
Q: An externality is defined as: the effect of an activity undertaken outside a building rather than…
A: Market failure occurs when the allocation of services and items by a free market is not efficient.…
Q: Tunction: P(L, K)=13L0.3K0.7 Find the marginal productivity of labor and marginal productivity of…
A: The Cobb-Douglas production function is a mathematical representation of the relationship between…
Q: Duncan Multinational Corporation is a global manufacturer and distributor of household appliances.…
A: The objective of the question is to identify the factors that Duncan Multinational Corporation…
Q: In a simple economy, people consume only two goods: food and clothing. The market basket of goods…
A: The market basket used to calculate the CPI consists of 40 units of food and 20 units of clothing.…
Q: 2. Saving and investment in the national income accounts The following table contains data for a…
A: Saving and investment are important components of national income accounting since they help to…
Q: Good Y Use this figure of a feasible frontier and a set of an agent's indifference curves to answer…
A: Indifference curves refer to the graphical relationship between the utility and different bundles of…
Q: Consider an exchange economy with two individuals, a and b, and two goods, x and y. Individual a has…
A: Vilfredo Pareto, an Italian economist, introduced Pareto efficiency back at the beginning of the…
Q: 1. There are two firms, firms A and B. Suppose that the two firms both produce Jam and butter and…
A: Absolute advantage refers to an ability of a country or entity to produce more of a product or…
Q: John is trying to decide how to divide his time between his job as a stocker in the local grocery…
A: The correct option is B. $2 and $3.5 respectively. Explanation:John's per-window reservation price…
Q: Regional trade blocs
A: Regional trade blocs talk to agreements among a couple of countries within a specific geographic…
Q: r input is w₁ 20 and the per-unit price of capital input is w₂ = 80. it is Bridget's long run…
A: Production function refers to functional relationship between the output and inputs. Change in…
Q: 1. Say we have two types of economic agents: manufacturing firms and households. For manufacturers,…
A: The Bid Rent Theory is an economic concept that describes the relationship between the price of land…
Q: What correlation exists between exports and GDP per capita, and imports and GDP per capita?
A: The correlation that exists between exports and GDP per capita, and imports and GDP per capita are…
Q: A particular chemical process deposits scale on the inside of pipes. The scale cannot be removed,…
A: In finance, economic life refers to the period during which an asset is economically useful and…
Q: Refer to the table below. Quantity Cost (in dollars) Fixed Costs (in dollars) Total…
A: The objective of the question is to understand the characteristics of a total cost curve based on…
Q: Consider a small country that exports steel. Suppose the following graph depicts the domestic demand…
A: Dear student,Part 1: Answer1. True. With the imposition of an export subsidy, the price of steel in…
Q: The labor force participation rate is the percentage of the working-age population in the labor…
A: The population is 283 million.The working-age population is 186 million.The labor(L) force is 129…
Q: Suppose the fictional country of Biscayne produces two types of goods: agricultural and capital. The…
A: PPF stands for Production Possibility Frontier or Production Possibility Curve. It is a graphical…
Q: Consider the following utility function that expresses the preferences of any consumer for good x…
A: Utility function is a mathematical representation utilized in economics to quantify the satisfaction…
Q: Which definition best describes real world interpretation of "the opportunity cost of…
A: It refers to the value of resources used or given up to produce a service or good. Explicit Costs:…
Q: (a) Characterize the initial steady state equilibrium in both countries, graphically and in…
A: The Cobb-Douglas production characteristic is a mathematical illustration of the relationship…
Step by step
Solved in 3 steps with 2 images
- Son 5 Marginal cost is given by 30 + 20Q - 12Q2. Fixed cost is 100. What is the average cost? Henüz 30 OA3Q? + 10Q + 70 + cevaplanmad 16,00 azennden aretlenmis 100 O B. 3Q? + 20Q + 30 + Sonyu aretle 100 OC 40 + 10Q + 30 + 30 O D. 4Q? + 10Q + 70 +The manager of the donut shop tells you that hesells donuts for $1 each, and that if he were to makeadditional donuts, based on his current level ofoutput, it would cost him $0.80 per donut. Do yourecommend that the manager increase or decreasethe number of donuts he makes?Text Entry Copy and paste or type your submission right here. HTML Editor В I A - I E E 3 E E X' X, =三 用▼ 12pt Paragraph Quantity Total Costs 20 10 1 30 12 2 42 13 55 20 4 75 25 100 30 16 ||130 128 words MacBook Pro 国 3.
- Use the diagrams to answer the following questions. Price and cost 20- 18 16- 14- 12 10 8 6 4 2+ o Market 1 488888 MC NO₂ MR 40 55 an in en nn minn Price and cost 20- 18- 16- 14 12- 10- 8- 6- 4- 2- 0 Market 2 0000000 MC NMR Annnnn in ED ORA on noinn If the firm wants to maximize profits, what price will it charge in Market 1, and what quantity will it sell? The firm will charge a price of $ using integers). Q and will sell a quantity of units. (Enter numeric responsesOutput TFC TVC TC MC ATC A 25 25 ---- -- ------- 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 4 25 110 33.75 F 5 25 160 50 What is the marginal cost of the 2nd unit of output? Cannot be determined. 15 25 30 O O O OPlz don't use chat bot, i vll downvote then.... Need it typed asap
- Compare the average total cost and the marginal cost and explain the relationship Describe the methods that can be used to dertermine where profit is maximized L Q MP MC TC ATC 0 0 200 1 20 20 5.00 300 15 2 50 30 3.33 400 8 3 90 40 2.50 500 5.56 4 120 30 3.33 600 5.00 5 140 20 5.00 700 5.00 6 150 10 10.00 800 5.33 7 155 5 20.00 900 5.81Plz solution fast I give ???Answer both please otherwise I will give dounvote
- Output TFC TVC TC MC ATC A 25 25 В 1 25 25 50 25 50 C 2 25 40 65 32.5 3 25 70 95 E 25 110 33.75 F 5 25 160 50 What is the marginal cost of the 4th unit of output? 40 25 50 Cannot be determined.A computer company produces affordable, easyto-use home computer systems and has fixed costs of$250. The marginal cost of producing computers is $700for the first computer, $250 for the second, $300 for thethird, $350 for the fourth, $400 for the fifth, $450 for thesixth, and $500 for the seventh.a. Create a table that shows the company’s output,total cost, marginal cost, average cost, variablecost, and average variable cost.b. At what price is the zero-profit point? At whatprice is the shutdown point?c. If the company sells the computers for $500, is itmaking a profit or a loss? How big is the profitor loss? Sketch a graph with AC, MC, and AVCcurves to illustrate your answer and show theprofit or loss.d. If the firm sells the computers for $300, is itmaking a profit or a loss? How big is the profitor loss? Sketch a graph with AC, MC, and AVCcurves to illustrate your answer and show theprofit or loss.The total cost of Mr. Plow, a snow-removal business, is given in the table below. Quantity adriveways cleared) Abbreviation Formula: Total Revenue TR Total Cost TC $0 $25 20 30 40 50 60 70 80 34 41 46 49 51 54 60 70 95 145 10 100 What is the total profit of cleaning five driveways if the price Mr. Plow can charge is $10 per driveway? s 01/21 VIEW sOLUTION O OF 21QUESTIONS COMPLETED 28 MacBook Pro 59