What is the supply function of this competitive firm

Assignment Help Econometrics

Reference no: EM13190681

A perfectly competitive firm has a total cost function TC(Q)=10 million + 5Q + Q2/10,000. Of its total fixed cost of $10 million, $9 million can be avoided if the firm produces an output of zero, but $1 million is completely unavoidable (even if the firm stops producing altogether, it must still pay this $1 million). What is the supply function of this competitive firm, i.e. the quantity supplied as a function of market price?

Reference no: EM13190681

Questions Cloud

Anthropological research facility : The Anthropological Research Facility allows donated bodies to decompose in an indoor setting to study postmortem changes

Find data on gdp and its components : Find data on GDP and its components, and compute the percentage of GDP for the follow-ing components for 1950, 1980, and the most recent year available. a. Personal consumption expenditures b. Gross private domestic investment

Define thin layer chromotography it would be caffeine : Thin layer chromotography it would be caffeine, but why? both have amide functional groups making them very polar, so why is caffeine more polar?

During the 20th century-element of art : During the 20th century, which of the following became a recognized element of art?

What is the supply function of this competitive firm : A perfectly competitive firm has a total cost function TC(Q)=10 million + 5Q + Q2/10,000. Of its total fixed cost of $10 million, $9 million can be avoided if the firm produces an output of zero, but $1 million is completely unavoidable.

How many outputs are in the sample space : An urn contains 6 balls numbered 1 through 6. Suppose you draw a ball from the urn, observe its number, replace the ball, draw a ball again, and observe its number. How many outputs are in the sample space?

State a condensed structural formula : Write a condensed structural formula for each of the following (e.g. CH4, C2H6, etc.)? Then please give me a brief description of how you do so?

Many people argue unrealistic standards of beauty : Many people argue unrealistic standards of beauty as set through celebrities and the media is a real problem for our society. Men and women are influenced by media to strive for idealistic versions of perfection.

What is the first step : What is the first step?

User Account

All Pages