User Account

All Pages

Corresponding average total cost function

Assignment Help Business Management
Reference no: EM132171662

Suppose the manager of a firm operating in a competitive market in the short-run has estimated the firm's average variable cost (AVC) function to be

AVC= 4.0-0.0024q+0.000006q^2

Total fixed cost (TFC) is $600.

(a) What is the corresponding average total cost (ATC) function?

(b) What is the corresponding short-run marginal cost (SMC) function?

(c) At what output does AVC have its minimum value? What is the minimum value of AVC?

(d) Suppose that the price of the product is $7.

i. How much output will the firm produce in the short run?

ii. How much profit will the firm earn?

iii. Should the firm shut down?

Reference no: EM132171662

Questions Cloud

Xalculate the profit-maximizing price : Use this information, along with the marginal cost for each channel, to calculate the profit-maximizing price for each of these channels.
Design presentation of your collection and analysis of data : Scenario: PORTSMOUTH ROAD DEVELOPMENT. Using PowerPoint, you will design a presentation of your collection and analysis of data
Main goals of monetary policy in australia : 1. Define monetary policy and describe the main goals of monetary policy in Australia?
Analyse and manipulate complex numbers : Determine and manipulate ODE equations, both numerically and with symbolic software, analysing the results of the software simulations, comparing
Corresponding average total cost function : Suppose the manager of a firm operating in a competitive market in the short-run has estimated the firm's average variable cost (AVC) function to be
What is profit- maximizing price : What is your profit-maximizing price if you control 5 percent of the market? What is your profit- maximizing price if you control 15 percent of the market?
Issues of burgeoning federal debt and deficits : Is such an amendment an appropriate solution to the issues of burgeoning federal debt and deficits? Please explain.
Unemployment and inflation rate : How do you think this will affect unemployment and inflation rate?
What events would he list on his site : What if, say, Edgar Allan Poe, Elvis Presley, or Guglielmo Marconi had a Facebook account? What would it look like? What events would he list on his site

Reviews

Write a Review

Business Management Questions & Answers

  Development of critical thinking

As all items, it is graded based on the development of critical thinking, analysis, and support for points. You are to prepare a brief paper, but recommended length is about two - three single-spaced (four to six double-spaced) pages for the body ..

  Describe how research is used in your organization

Prepare a 1,050-word informal "paper" using the format shown below in which you describe how research is used in your organization (or an organization with which you are familiar), and how it can be used more effectively

  Current organization or industry

Problem: Identify two business situations or problems within your current organization or industry. Articulate how one of these lends itself to a simple linear regression and how one does not. Why is simple linear regression appropriate to address..

  Organization production function

How your organization's production function is related to its marginal product of labor.

  Performance against the leadership characteristics

Choice a current or a past president of the United States and assess his performance against the leadership characteristics discussed in the text.

  Single consultant sole proprietorship or a small corporation

Do you think a single-consultant sole proprietorship or a small corporation with a half dozen or more consultants would be better able to ride out tough times at the bottom of a business cycle?

  Ethics influence leadership decision making

How should ethics influence leadership decision making so patients will be able to receive the care they need versus the care they want?

  What makes a best company for minorities

What Makes a "Best" Company for Minorities? In its ranking of the 50 Best Companies for Minorities, Fortune listed the following suggestions for fostering diversity:

  Complexity theory frameworkdescribe and discuss within a

complexity theory frameworkdescribe and discuss within a complexity theory framework how small changes in a system can

  How has this perception been formed

Choose one of the diversity issues and challenges we have studied in Module 1 and describe your experience in relationship to the topic you have chosen.

  Describe and critically analyse the knowledge processes

To describe and critically analyse the knowledge processes behind one of the case studies presented on the unit website and analyse the source, target and flow of knowledge and information in the situation

  Enhancing pepsicos future performanceprovide

enhancing pepsicos future performanceprovide recommendations as to what actions top management should take to enhance

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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