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Assume that the manager of a company operating in competitive market has estimated the company's average variable cost function to be AVC=4000-5Q+0.002Q^2
Total fixed cost is $62500. The firm across the street is charging $1000 per unit that they sell.a. What is the minimum value for AVC?b. How much output should the firm produce in the short run?c. How much profit will the firm earn?
Hint: if we face the following quadratic equation: ax^2+bx+c=0, then we can find x using this formulax=(-b+-(b^2-4ac))/2a.Use the largest number as your solution
Assume the Kalamazoo Competition free Concrete's demand function is D=5,000-50P, its marginal cost is 40 dollar per cubic yard,
In most restaurants, waiters receive a big portion of their compensation through tips from customers. Generally, the size of the tip is decided by the customer. However, many restaurants require a 15 percent tip for parties of eight or more.
Using the data in the following table, Complete the last two columns by replacing the * with the correct values and create the following curves in one chart.
Describe critically growth maximisation model of morris - Grade Level : Post Graduate Level
Use the following data to answer the questions given below; Calculate the profit-maximizing level of output and price if the company sells all of its tickets at one price.
Wyandotte Chemical Corporation sells many chemicals to automobile industry. Wyandotte currently sells 30,000 gallons of polyol per year at an average price of $15 per gallon.
Suppose you have been appointed as Global Manager of a company that has 2-plants, one in the US and one in Mexico. Suppose, you cannot change the size of plants or amount of capital equipment.
Suppose a company employs 10 workers and pays each $15 per hour. Further assume that the MP of the 10th worker is five unit of output and that the price of output is $4.
Superior Metals Corporation has seen its sales volume decline over past few years as the result of rising foreign imports. In order to raise sales, the company is planning a price reduction on luranium
Following are the Production Function: Q = 72X + 15X2 - X3, where Q = Output and X = Input The Marginal Product and Average Product when X = 6 are;
Two local ready mix cement manufacturers, Here and There, have combined demand given through Q = 105 - P. Their total expenses are given by TC = 5Q + 0.5Q2 and TC = 5Q + 0.5Q2.
MNCs have business units in different geographic areas. This leads to interaction in different languages and cultures.
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