What is level that will maximize his average cost in units

Assignment Help Microeconomics
Reference no: EM133614313

Problem: Todd uses the quadratic regression model to determine the predictive average unit cost of baseballs produced in his production facility. After determining predictive average costs at multiple unit batch size amounts in millions, he now wants to know what the output level that minimizes his costs would be. Given b subscript 1 = -0.3802 and b subscript 2 = 0.0198, what is the level that will maximize his average cost in units?

Reference no: EM133614313

Questions Cloud

How could she achieve her marketing goal using a display : she can reach a significant portion of people on the internet with the help of a Display campaign. How could she achieve her marketing goal using a Display
How might your community be affected : With the new USMCA deal, some industries may see job losses while others see gains. How might your community be affected?
Contrast risk of entrepreneurship and business ownership : Compare, and contrast the risk of entrepreneurship and business ownership versus working for a large company. Outline and debate the risks and reads of each
Which principle of appropriate use of technology : James checked his voice mail after his interaction with Nancy and found out he did not get the position. Nancy seems to have forgotten which principle
What is level that will maximize his average cost in units : Given b subscript 1 = -0.3802 and b subscript 2 = 0.0198, what is the level that will maximize his average cost in units?
What will the current price of the basket be : If prices are $3.00 a bag of marshmallows, $2.00 a box of crackers, and $3.00 per bar of chocolate, what will the current price of the basket be?
What is an effective method for growing strong : What is an effective method for growing strong informal institutional norms that an entrepreneur can engage in to promote entrepreneurship
Create a written overview of united airlines culture : Create a written overview of united airlines culture. Is it positive or negative, does it align with the organization's objectives, strategies, and policies
What happens to the economy in the short run : What happens to the economy in the short run? What happens to the economy in long run, explain how long run adjustment occurs.

Reviews

Write a Review

Microeconomics Questions & Answers

  Question 1complete the table below for a feed price of 380

question 1.complete the table below for a feed price of 380 per tonne and a weaner price of 1.10 per kilogram. indicate

  Evaluating the transfer prices and idle capacity

Transfer Prices and Idle Capacity The Eugene division of Union Furniture purchases lumber, which it uses to fabricate tables, chairs, and other wood furniture.

  Where would you expect the eurodollars deposit to be

In addition to the interest rate information in Question 2, you also note that the deposit rate in the United States is 6½ percent and the lending rate.

  Explain how market equilibrium is restored.

If the price of a mouse pad is $7.00, describe the situation in the market. Explain how market equilibrium is restored. What is the market equilibrium if a fall in the price of a computer changes the quantity demanded of mouse pads by 20 a week at e..

  Explain why the distinction is important to economists

Define and distinguish between real and nominal GDP. Explain why the distinction is important to economists. The response must be typed.

  What assumptions can you make about how airlines adjusted

the demand for international flights in the us is on average less elastic to price than the demand for domestic

  Discuss transportation and logistics management policy

Discuss transportation and logistics management policy - What impact does policy (local, state, and/or federal) have on transportation

  How economics and personal lifestyle choice are involved

Prepare a 5- to 8-slide PowerPoint presentation with detailed speaker notes. If you first discuss options with your faculty member, you are also welcome to use.

  Under what conditions can carmakers pass very little of cost

The federal government decides to require that automobile manufacturers install new anti-pollution equipment that costs $2,000 per car.

  Plot a graph of aw versus interest rate on the spreadsheet

Equipment needed at a Valero Corporation refinery for the conversion of corn stock to ethanol, a cleaner- burning gasoline additive, will cost $175,000 and have net cash flows of $35,000 the first year, increasing by $10,000 per year over the life..

  What is the equilibrium in the intermediate run

What is the equilibrium in the intermediate run, where in the intermediate run firms cannot enter or leave the industry but can change their levels of kapitose and legume utilization.

  Compute the interest rate charged by the bank

Compute the interest rate charged by the bank when it is subsidized and when is not. Compute the subsidy dependence index.

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