What is the firm average total cost

Assignment Help Business Economics
Reference no: EM133128090

A firm has the following short-run cost schedule:

Q=0, TC=$50; Q=1, TC=$58; Q=2, TC = $62; Q=3, TC=$64; Q=4, TC=$65; Q=5, TC=$67; Q=6, TC=$71; Q=7, TC=$78; Q=8, TC=$88; Q=9, TC=$102; Q=10, TC=$121

What is the firm's average total cost when Q=8?

Reference no: EM133128090

Questions Cloud

What is the maximum wally company can contribute to dpsp : Wally and his employer each contribute 6% of his salary each year. Wally made $70,000 in 2018. What is the maximum Wally's company can contribute to a DPSP
Draw a diagram or write an equation manually : "Assume that 10% increase in the price of good A leads to 15% reduction in the sale of good B. This implies good A and good B must be complementary goods"
What is the internal rate of return of this sale : You save that costume for ~12 years when, on May the 4th (5/4/34) a Star Wars fanatic buys it off of you for $299.00. What is the internal rate of return
Holding the overall costs of production constant : Consider the following scenario: the firm estimates that currently, its marginal product of labor is 80, while the marginal product of capital is 160. The firm
What is the firm average total cost : A firm has the following short-run cost schedule:
Draw the state transition diagram : Write the state definition and derive the transition probability matrix for the corresponding MC. Note: Do not subtract sum of other elements
Explain the proposed full employment policy : 3. Finally make a summary as to whether or not you would support this proposed "full employment" policy.
How tour of sp premises will assist the auditor in planning : Your audit firm, Kellie & Associates, has just been appointed the auditor of a large manufacturing company, How tour of SP premises will assist the auditor
Confidence interval for the order completion time : How long does a customer have to wait until their order is complete? A random sample of 100 orders showed a sample mean 34.2 minutes with a standard deviation 9

Reviews

Write a Review

Business Economics Questions & Answers

  Labor supply curve is very elastic-tax on labor

If the labor supply curve is very elastic, a tax on labor:

  Decided to increase oil production-aggregate supply curve

Suppose OPEC members met and decided to increase their oil production (and thus lower prices) for six months. This change will cause many firms’ input prices in the U.S. to __________. This change in input prices will cause a _____________ aggregate ..

  Positive economic? statement

Which of the following is a positive economic? statement? Suppose the U.S. government encouraged consumers to trade in their old automobiles for more? efficient, new models by paying up to? $5,000 for the old automobiles. These consumers would be exe..

  What is a basic summary of the pickens plan

What is a basic summary of the Pickens plan (Oilman T. Boone Pickens )? Using the supply-and-demand model explain how Pickens' plan would affect the global price of oil if it were to be successfully implemented.

  Illustrate what is the probability that the defense defends

Illustrate what is the probability that the defense defends the right hand side. Explain in words what the expected outcome will be.

  How much can the company be expected to gain

How much can the company be expected to gain on 100,000 such policies?

  Hypothetical supply of soybean

The following is an equation representing a country’s hypothetical supply of soybean, with price (P) expressed in $/bu and quantity supplied (Q) expressed in billion bu: P = 2 + 2.5 Q. Use a computer spreadsheet (e.g., Excel) to plot this supply curv..

  Equilibrium unemployment theory

What would be good textbooks at the graduate level that deal with Labor Economics and Labor-Macro (As in, Equilibrium Unemployment Theory, Shimer Puzzle etc)?

  You own a cigar company in cuba

You own a cigar company in Cuba. You produce 999 boxes of cigars per year. Your average cost per box is $1.00.

  Calculate the size of the student spending multiplier

The Nottinghamshire Research Observatory in England calculated that students who attend Nottingham Technical University

  Maximizing profit by charging

A firm started advertising its product and this changed the product's elasticity from -2 to -1.5. If, prior to advertising, the firm was maximizing profit by ch

  Foreign direct investment

You are launching a "Deep Fried Burger" in a foreign country through Foreign Direct Investment.

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