Determine the total cost function

Assignment Help Civil Engineering
Reference no: EM13897314

Determining Cost Estimating Function

A product plant is being considered for a new booming market. Total fixed cost for design, land, and plant construction is $105. The variable cost of producing product is a function C (n) = 100n - 3 x 10-3 n2 + 10-7 n3 where n = number of product produced.

(a) Determine the total cost function C (T). (Hint: It includes the cost of producing the product and fixed cost.)

(b) Find the marginal cost function Cm for producing the product.

(c) Find the number of product for minimum marginal cost. What is the marginal cost at this point? What is the average cost per unit at this level of production?

(d) Total revenue is given by S (n) = 250 n. Find the marginal price. Determine the functions for total profit, and marginal profit.

(e) Find the point to maximize profit.

(f) Graph these cost equations.

Reference no: EM13897314

Questions Cloud

Financial planning process is of high value to a health : financial planning process is of high value to a health care organization
Which of the following bacterial types can produce endospore : Which of the following bacterial types can produce endospores, enabling them to survive hundreds of years in a dormant state?A)    Vibrio   C) ClostridiumB)    Bacillis   D) A & B Only   E) B & C Only
Determine the total cost function : Determine the total cost function C (T). (Hint: It includes the cost of producing the product and fixed cost.) Find the marginal cost function Cm for producing the product
What are adverse selection and moral hazard? : What are adverse selection and moral hazard?
Calculate the area of ceiling vents : Calculate the area of ceiling vents required for ensuring a maximum thickness of the smoke layer of 5 m
Discuss limitations due to soil features : How do soil types (sand, silt, clay content) or soil restrictions, such as rockiness or hard pans influence choices related to power source, tillage, and planting equipment? Discuss limitations due to soil features and how a producer might overcom..
Be sure to save an electronic copy of your answer : Directions:  Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cite..

Reviews

Write a Review

Civil Engineering Questions & Answers

  Engineering ethics and ethical issue

what is the engineering ethics course where to write about any engineering ethical case and discuss the ethical issue?

  Engineering ethics and concept and cases

what is the engineering ethics case related to civil engineering with reference and discuss all the engineering ethics issues which covered the "Engineering etics concepte and cases?

  Transportation and management

In the construction management, there is a lot of procurement route that are necessary and suitable for the construction industry.

  Supporting Investment Promotion: ERNST & YOUNG

Ernst & young is currently providing support to various sectors. In this regards it was felt that if this report is able to document good practices currently being adopted or planned in ceramic sector.

  Personalized Cancer Therapy-A step forward

Cancer is the uncontrolled growth of abnormal cells in the body resulting in tumours that can be benign or malignant (cancerous cells). A proper treatment is necessary to fight with this serious disease.

  Discuss the different environmental companies

Discuss the different agencies, institutes, centers, different environmental companies that are active in UAE.

  Develop a simple urban constructed wetland design

Develop a simple urban constructed wetland design.

  Evaluate company performance in relation to GRI standards

Evaluate company performance in relation to GRI standards and comment on Stigler's theory.

  Water system design

Determine the corresponding error in the computed discharge

  Hydraulic behaviour in open channel

Describe how test flumes and associated equipment are used to assess and confirm hydraulic behaviour in open channel

  Write a paper on steel sustainability

Write a paper on steel sustainability.

  Writing case study about bridge collapse

Writing case study about bridge collapse

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