Reference no: EM131324962
A study of the costs of electricity generation for a sample of 56 British firms in 1946-1947 yielded the following long-run cost function:
VC = 1.24 + .0033Q + .0000029Q2 - .000046QZ - .026Z + .00018Z2
where AVC = average variable cost (i.e., working costs of generation), measured in pence per kilowatt-hour (kWh). (A pence was a British monetary unit equal, at that time, to 2 cents U.S.)
Q = output; measured in millions of kWh per year
Z = plant size; measured in thousands of kilowatts
a. Determine the long-run variable cost function for electricity generation.
b. Determine the long-run marginal cost function for electricity generation.
c. Holding plant size constant at 150,000 kilowatts, determine the short-run average variable cost and marginal cost functions for electricity generation.
d. For a plant size equal to 150,000 kilowatts, determine the output level that minimizes short-run average variable costs.
e. Determine the short-run average variable cost and marginal cost at the output level obtained in Part (d).
|
Determine the average operating expense ratio
: Determine the average operating expense ratio for a savings and loan association with the level of total assets determined in Part (a) and 1 branch. Same question for 10 branches
|
|
Page paper on anything to do with biology
: Write a 5 page paper on anything to do with Biology. That's right... ANYTHING! Find something you are interested in and investigate it! It can be a person, a topic, a new technology... do something that interests YOU!
|
|
Recommend the proper audit controls to be employed
: Analyze proper physical access control safeguards and provide sound recommendations to be employed in the registrar's office. Recommend the proper audit controls to be employed in the registrar's office.
|
|
Discuss your role as a leader in the change process
: Discuss the role that diversity plays into people's response to change? Discuss your role as a leader in the change process. Describe how individuals react differently to the change process. Why do you suppose these differences occur, and in what wa..
|
|
Determine the short-run average variable cost
: Determine the short-run average variable cost and marginal cost at the output level obtained in Part (d).
|
|
Production of a new human being
: The primary goal of the reproductive system is the production of a new human being. Let's consider each step of that process, beginning with the formation of gametes (sperm and eggs) and ending with birth. Can someone start us off with the formati..
|
|
Did capitalism emerge in the city or the countryside
: Did capitalism emerge in the city or the countryside? What ‘social property relations' were necessary for the development of capitalism? Why did they develop in agrarian communities? How do these differ from pre-capitalist relations according to W..
|
|
Detected low levels of calcium in the bloodstream
: Once the hypothalamus has detected low levels of calcium in the bloodstream, describe the full cascade of events that leads to low bone density.
|
|
Display employee information for the second employee object
: CIS247B- Display the Employee information for the second Employee object. Create a second Employee object using the multi-argument constructor, setting each of the attributes with appropriate valid values.
|