A business with the total cost function

Assignment Help Microeconomics
Reference no: EM13741893

Assume you are the manager of a business with the total cost function C(q)=50+5q2 and you sell your output in a competitive market at a price of p=250 dollars per unit. Then, to maximize your profit you should produce 

Reference no: EM13741893

Questions Cloud

Examine the major implications for firms entering : From the scenario for Katrina's Candies, examine the major implications for firms entering into a merger. Explain the criteria the U.S. Department of Justice and the Federal Trade Commission would follow when deciding on whether or not to approve a p..
Problem regarding the tootsie roll industry : Focus on the Balance Sheet, which Tootsie Roll Industries Inc. titles Consolidated Statements of Financial Position, and the notes following the financial statements. Answer the following questions in a clear and concise, professional business rep..
Write the equation for the medical isocost of afc : Presently, AFC has on its medical staff 10 doctors and 10 nurses. The daily wage of a doctor is $600, whereas a nurse is paid only $200 a day. Write the equation for the medical isocost of AFC.
Interest rate compounded monthly for saving account : Enrico Suarez just graduated with a B.S.in engineering and landed a new job with a starting annual salary of 48,000.there are number of things that he would like to do with his new found ”wealth”. For starters, he needs to begin repaying his student ..
A business with the total cost function : Assume you are the manager of a business with the total cost function C(q)=50+5q2 and you sell your output in a competitive market at a price of p=250 dollars per unit. Then, to maximize your profit you should produce
What was the internal or external pressure caused the change : What was the internal or external pressure that caused the change. Compare the driving force for the change to the specific types of pressures noted in your reading assignments.
A royalty was for a minor or major patent : If the government could only observe prices, quantities, and royalty rates (But did not know the demand curves or the marginal cost curves), could it determine if a royalty was for a minor or major patent?
What are the equilibrium price and quantity : 1. Market demand for a certain commodity is QD = 12 - P, and the short-run total cost function for the firm is SRTC (Q) = Q2 + 1. a. If the firm behaves as a perfect competitive firm, determine the equilibrium price and quantity.b. If instead the fir..
Ethics of fixed asset accounting : You are the owner of a successful small business. You have just finished a year of large capital investments using borrowed funds. YOUR banker requires quarterly financial statements to monitor the financial health of your company.

Reviews

Write a Review

Microeconomics Questions & Answers

  Why might economists prefer tariffs to quotas

Why might economists prefer tariffs to quotas?

  Mean plus minus two standard deviations

Suppose that buses arrive at a bus stop every 15 minutes and the waiting time for the next bus to arrive has a uniform probability distribution on the interval from 0 to 15 minutes

  Describe the competition from substitute goods or services

In order to derive an individual's demand curve for salmon, we would observe what happens to the utility-maximizing bundle when we changea. income and hold everything else constant. b. the price of a close substitute and hold everything else constan..

  Assume price of local cable tv service increased from 1620

suppose the price of local cable tv service increased from 16.20 to 19.80 and as a result the number of cable

  C-section deliveries are becoming more common

1.Health care expenditures represent an increasingly large portion of the economy. Currently health care expenditures are growing past 20% of GDP. Part of the increase in expenditures relates to the choices patients make about the type of ca..

  Write the difference between award fee contracts and

identify and define the three categories of compensation arrangements. give examples of specific arrangements in each

  What occurs to money supply interest rates and economy if

what happens to the money supply interest rates and the economy if the federal reserve is a net seller of government

  Colombias current worth and cash flows

Colombia's current worth and cash flows and Colombia's FDI strategy (economic growth stategy)

  Find the total revenue for united states

United States winter wheat production rise dramatically in 1999 after a bumper harvest. The supply curve shifted rightward; as a result, the value reduced and quantity demanded increased

  Given this belief does it seem that setting its price at 45

suppose that a firm is currently charging 45 for its product. the firm knows that its marginal cost of producing the

  Firm and state what is the market structure

Select an industry or firm and state what is the market structure (pure competition, or monopoly, or monopolistic, or oligopoly).Define the characteristics of the industry or firm to support your selection of a market structure. Explain or illustrate..

  How much must you produce and what are your profits

Presume that each firm must make an upfront investment of $1000 to enter the market and t that your competition has already paid this investment and chosen is non recoverable (sunk). Must you make te $1,000 investment and enter the market? If so, how..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd