What is its profit-maximizing level of output

Reference no: EM133426142

Question: A local firm in a competitive industry has a variable cost function VC = Q 3, where Q is the output per week. The firm has signed a long-term lease for the building it is using, and they have other fixed costs that add up to $3000. The firm's marginal cost function is MC = 3Q2. What is its profit-maximizing level of output when the market price for their product is $243? 'What are the firm's profits? Should this firm be operating? In the short run? In the long run?

Reference no: EM133426142

Questions Cloud

Describe the fiscal policy action that is discussed : Describe the fiscal policy action that is discussed in the article, including its status (such as under debate, approved, or rejected). Would the fiscal policy

Determine the outcomes of their treatment programs : Determine the outcomes of their treatment programs. Explain what you were able (or not able) to find regarding their successful treatment rates.

Discuss the cost-benefit analysis of the european unions : Discuss the cost-benefit analysis of the European Unions Registration , Evaluation, Authorisation and Restriction of Chemicals (REACH) program

What you know about your mental health : Tell what you want to learn and why. Explain why the topic (Mental health) is important to you and what motivated you to know about it?

What is its profit-maximizing level of output : What is its profit-maximizing level of output when the market price for their product is $243? 'What are the firm's profits? Should this firm be operating

Normal distribution and skewed distribution : What is the difference between a normal distribution and a skewed distribution? What causes a skew, and how might a researcher deal with skewed data?

What happens to the market price (analyze with a graph) : the demand for historical artifacts has dramatically increased recently whereas some of the old coin is destroyed or no longer of any value, what happens

What is emr : What is EMR? What is TMR? How do they differ? Why is a modified curriculum necessary for both of these groups?

Demonstrate that the children inherit from the parent class : And the main method to demonstrate the correct functionality of the code and to demonstrate that the children inherit from the parent class.

User Account

All Pages