Solution-Calculate dr savage long-run average cost of

Calculate dr savage long-run average cost of writing

Assignment Help Basic Statistics

Reference no: EM132488480

Suppose Dr Savage would like to write an new economic textbook, and given his understanding of economics he estimates the long run total cost of writing to be LT C = 20, 000Q - 200Q2 + Q3 and his long-run marginal cost as LMC = 20, 000-400Q+ 3Q2 , where (Q) is measured as thousands of words.

(a) Calculate Dr Savage's long-run average cost of writing by dividing the total cost by Q.

(b) Calculate the quantity where LAC is at a minimum, using the relationship between LMC and LAC.

(d) Calculate the ranges over which Dr Savage experience economies of scale and diseconomies of scale.

Reference no: EM132488480

Questions Cloud

What is the total amount of the market value for the right : What is the total amount of the market value for the right of purchasing the annuity today, given that the market interest rate is 2%?

What strategy would use to achieve desired cash flow : Suppose the firm does not convert but she prefers the proposed capital structure with debt. What strategy would she use to achieve her desired cash flows?

Discuss the relationship between problems : Start with an arbitrary utility function u(x1, x2) that is differentiable. Let v (u) is a monotonic transformation of u.

What is the deadweight loss created by tax : If the government places a $50 tax on each ticket, raising ticket prices to $270 and causing Matt not to go, what is the deadweight loss created by this tax?

Calculate dr savage long-run average cost of writing : Calculate Dr Savage's long-run average cost of writing by dividing the total cost by Q.

Determine what coupon rate should company set on new bonds : Make semiannual payments, and mature in 20 years. What coupon rate should the company set on its new bonds if it wants them to sell at par?

ADMS 4260 Market Research Assignment : ADMS 4260 Market Research Assignment help and solution, York University - assessment writing service - What type of research information is required to address

Describes the value added at each stage of production : Calculate the effective tax rate for a 1% value added tax and compare this ETR to the stated tax rate. describes the value added at each stage of production

What quantity would it produce : If the firm could perfectly price-discriminate, and each unit of output were infinitely divisible, what quantity would it produce and what would its profit

User Account

All Pages

Calculate dr savage long-run average cost of writing

Reference no: EM132488480

Reference no: EM132488480

Questions Cloud

Reviews

Write a Review

Basic Statistics Questions & Answers

Statistics-probability assignment

What is the least number

Determine the value of k

What is the probability

Binomial distributions

Caselet on mcdonald’s vs. burger king - waiting time

Generate descriptive statistics

Sampling variability and standard error

Estimate the population mean

Conduct a marketing experiment

Find out the probability

Linear programming models

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT