What is its marginal cost function

Assignment Help Business Economics
Reference no: EM13898587

A firm faces a demand where q = 256/p^2 . q is quantity demanded, P is price. Its P2 total cost function is TC = 0.5q^2 + 10 . What is its total revenue function in q? What is its profit function? What is its marginal revenue function? What is its marginal cost function? How many should it produce to maximize profit? What is the price it charges to its consumers?

Reference no: EM13898587

Questions Cloud

Find the markets long-run equilibrium price : Consider a perfectly competitive industry. Market demand is P=500-2Q and all firms are identical. Find the market’s long-run equilibrium price. Show that the firm's profit is zero at this price. c. If all firms are identical, then how many firms is c..
The previous director of insurance plan required no co-pay : The previous director of an insurance plan required no co-pay. As the new director, your first reform is to implement a co-pay. Assume that each doctor visit costs the insurance plan $40, and use the following demand curve for your enrollees: P = 50-..
Explain the law of diminishing marginal utility : In 1-2 pages, explain the law of diminishing marginal utility and give an example of an opportunity cost you pay personally and another example of an opportunity cost you believe the economy pays because of large military expenditures.
Consumed only in units of homogeneous quantity : Suppose medical care is consumed only in units of a homogeneous quantity, for instance, office visits which are priced at $40 per visit. The available insurance plan carries a $200 deductible and has a coinsurance rate of 20%. Graph the out-of-pocket..
What is its marginal cost function : A firm faces a demand where q = 256/p^2 . q is quantity demanded, P is price. Its P2 total cost function is TC = 0.5q^2 + 10 . What is its total revenue function in q? What is its profit function? What is its marginal revenue function? What is its ma..
Based on assumption that consumers save all extra income : Suppose GDP equals $9 trillion, consumption share is 6.3 and the government expenditure share is 1.8 suppose this economy has a budget surplus of $800 billion, taxes are 2.6, public savings is .8, private savings is .1 and national savings is .9 If t..
Draw nickis new inter temporal budget constraint : Nicki lives in two periods and has a utility function u(c1, c2 ) = c1xc2, where c1 is her consumption in period 1, and c2 is her consumption in period 2. Nicki's income in period 1 (I1) is $400, and her income in period 2 (I2) is $220. She can borrow..
What effect will tax have on price the monopolist charges : A local video rental monopolist faces the weekly demand function D(P)= 1000-100P. The marginal cost of a rental is $4. Suppose the town government places a $1 tax on all video rentals. What effect will the tax have on the price the monopolist charges..
Local monopolist of ready-mix concrete : Kalamazoo Competition-Free Concrete (KCC) is a local monopolist of ready-mix concrete. Its annual demand function is Qd= 24000-400P where P is the price, in dollars, of a cubic yard of concrete and Q is the number of cubic yards sold per year. Suppos..

Reviews

Write a Review

Business Economics Questions & Answers

  Q step 1 select a foreign currency as described abovestep 2

q. step 1 select a foreign currency as described above.step 2 perform your research. the content of your textbook can

  Aggregate supply curve and the phillips curve

Explain the link between the aggregate supply curve and the Phillip's curve. If the natural rate of unemployment falls, how will this affect the Phillip's curve?

  Students are required to write an essay on a significant

students are required to write an essay on a significant recent economic event or activity.discuss an economic activity

  Discuss the effects of the budget cut on three markets

In an effort to reduce education expenditures, Delware shuts down two of the five colleges that train nurses. Using the traditional supply and demand model, discuss the effects of the budget cut on three markets: the markets for nurse schooling (tuit..

  Analyze the relationships among total and average fixed cost

In a paper, analyze the relationships among total and average fixed cost, variable cost, and total cost. Address what happens to price and quantity with changes in demand and supply. You will need to identify then define the relationships.

  Explain in words why your answer makes sense

Calculate the percentage change in nominal GDP, real GDP and the GDP deflator in 2009 and 2010 from the preceding year. For each year, identify the variable that does not change. Explain in words why your answer makes sense.

  Other things held constant-producer surplus increases

Other things held constant, producer surplus increases as:

  Explain how many units of labour should firm hire

Suppose capital is fixed at 16 units. If firm can sell its output at a price of $100 per unit and can hire labour at $25 per unit, Explain how many units of labour should firm hire in order to maximize profits.

  Regardless of the price of apps

Jerome says that he will spend exactly $25 each month on new apps for his mobile device, regardless of the price of apps. Jerome's demand for apps is

  What is the firm weighted average cost of capital

The U.S. Treasury bill is yielding 2.6% and the return on the market is 11.2%. The corporate tax rate is 30%. What is the firm's weighted average cost of capital?

  Strategic decision making in competitive situations

Discuss Explain how "Game Theory" can be used to improve strategic decision making in competitive situations.

  What is the highest loan rate that would support investing

Suppose you have an asset that costs $11 in time period zero and has an IRR of 18%. With a retained earning rate of 5% on your remaining $7, what is the highest loan rate that would support investing in this asset? Calculate.

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