Firm earn by producing the profit-maximizing output

Assignment Help Business Economics

Reference no: EM131091309

Consider a firm in a perfectly competitive market with total costs given by TC = Q3 – 15Q2 + 100Q + 30 a.) What is this firm’s marginal cost function? Over what range of output are the firm’s marginal costs decreasing? Increasing? b.) Suppose that the market price is $52. What is this firm’s profit-maximizing level of output? How do you know this is the profit-maximizing output? How much profit does this firm earn by producing the profit-maximizing output?

Reference no: EM131091309

Questions Cloud

What is the change in checkable-deposits : What is the change in checkable deposits?

What role did the wartime conferences involving roosevelt : What role did the wartime conferences involving Roosevelt, Churchill, and Stalin play in the coming of the Cold War? Analyze those conferences from the standpoint of American national interests.

One for skilled workers and one for unskilled workers : Draw two markets, one for skilled workers and one for unskilled workers. If the number of unskilled workers is rising due to immigration (both legal and illegal) and the demand for skilled workers is rising, what occurs in the two markets?

International tax competition involves efforts : International tax competition involves efforts by national governments:

Firm earn by producing the profit-maximizing output : Consider a firm in a perfectly competitive market with total costs given by TC = Q3 – 15Q2 + 100Q + 30 a.) What is this firm’s marginal cost function? Over what range of output are the firm’s marginal costs decreasing? Increasing? b.) Suppose that th..

Imposes tariff on imported autos to protect : Suppose that Congress imposes a tariff on imported autos to protect the U.S. auto industry from foreign competition. Assume that the United States is a price taker in the world auto market. The following graph shows the U.S. auto market, the world pr..

Determine the rate of return on this investment : A small start-up company invested in a new plant with an initial cost of $10 million. Operating costs for the plant were $3 million per year for 7 years. There was a special one-time charge of $1 million in year 2 to correct unexpected equipment prob..

Discuss stress and how it varies across cultures : Discuss stress and how it varies across cultures. How do legal, cultural, and economic factors influence product policy? Why are brand names an important marketing tool for international business?

New entrant comes late to the bidding process : Suppose that a new entrant comes late to the bidding process, and plans a super competitive bid of $13,900 per case. This is a new orthopedic institute that is made up of several orthopedic surgical groups. They have their own diagnostic facilities a..

User Account

All Pages