Microeconomics
2nd Edition
ISBN: 9780073375854
Author: B. Douglas Bernheim, Michael Whinston
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 3, Problem 6P
To determine
Marginal cost and number of tower built.
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Students have asked these similar questions
You are analyzing a new company’s records projecting their profits using a marginal profit function, P′(x), where P is profit, in thousands of dollars, and x is the number of items they sell, in hundreds. the integral is from 5 to 1 for P ′(x) dx = 22. If the company projects to earn $26,000 of profit from selling 500 items and $7000 of that revenue from selling 100 items, what is their projected cost from selling 100 items?
Tesla estimates that its profit expressed in thousands of dollars each month is given by the expression: -6q^2 + 30q + 3210 where q (in thousands) is the number of cars produced and sold in a month. Determine the following:
a.
If Tesla's cost function is C(q) = 3210, state Tesla's variable cost per car.
B.If Tesla wishes to make a profit greater than $2,910,000, calculate and state the interval of value(s) for which this goal can be achieved.
ExxonMobil runs two oil refinery plants, one in Indonesia and the
other in Malaysia. The total cost function of the Indonesian plant is
TC₁ =Q and the total cost function of the Malaysian plant is
TC2=2Q2. If 5 units of refined oil are produced while
minimizing total cost, what is the optimal production at each plant?
O Indonesia 1, Malaysia=4
O Indonesia=0, Malaysia=5
O Indonesia 2, Malaysia=3
O Indonesia=3, Malaysia=2
Indonesia 4, Malaysia=1
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