What is the variable cost function of a firm

Assignment Help Econometrics
Reference no: EM13241378

A firm has the following Price and Cost functions:

P = 130 - 5Q
TC = 500 + 10Q2 +10Q

(a) Calculate profit-maximizing output
(b) Calculate Price at profit-maximizing point
(c)What is the variable cost function?

Reference no: EM13241378

Questions Cloud

What should be the transfer price of the pocket calculators : The plant has a capacity output of 200,000 calculators per year, and the plant's manager regards 75 percent of capacity as the normal or standard output. The projected total variable costs for the normal or standard level of output
Calculate the test statistics : Calculate the test statistics
Explain substance at room temperature : calculate the pressure change needed to completely hydrogenate this substance at room temperature and 50 degrees celcius.
The probability that the site is completed in less than 225 : Site preparation for new housing developments for tracts of 40 houses is normally distributed with a mean of 250 workdays and a standard deviation of 25 workdays.
What is the variable cost function of a firm : (a) Calculate profit-maximizing output (b) Calculate Price at profit-maximizing point (c)What is the variable cost function A firm has the following Price and Cost functions
Running a study comparing 3 different products on five : Running a study comparing 3 different products on five different experimental visits. The same subjects are used for each visit and the same tests are carried out each time on all 3 products. What is the best way to radomise the presentation of the 3..
What is its speed at point b : A small particle has charge -2.30\mu C and mass 3.00×10^-4kg . It moves from point A, where the electric potential is V_A = 120V , to point B, What is its speed at point B
Find its marginal revenue function : Find its marginal revenue function?
Explain what is the mass of h2so4 : What is the mass of H2SO4 in 520.0 cm3 sample of sulfuric acid that has a density of 1.55 g/cm3 and which consists of 55.0 % H2SO4

Reviews

Write a Review

Econometrics Questions & Answers

  Would you expect an increase or decrease in total revenue

In an attempt to increase revenues and profits, a firm is considering a 4 percent increase in price and an 11 percent increase in advertising. If the price elasticity of demands is -1.5 and the advertising is +0.6 would you expect an increase or d..

  What are the payments worth on the day to enter college

Your grandmother is gifting you $100 a month for four years while you attend college to earn your bachelor's degree. At a 5.5 percent discount rate, what are these payments worth to you on the day you enter college

  Find the value today of the maintenance costs

The operations manager of Black Cat Blades Ltd. of Edmonton, Alberta, is examining the cost of maintaining the company's manufacturing facility. Maintenance occurs every month. The cost of maintenance starts at $2250 and it will grow by $20 each t..

  What was the level of government spending in second quarter

In the second quarter of 2006, household income was $13,134 billion, consumption was $9,162 billion, investment was $3,340 billion, and net exports were -$777 billion. What was the level of government spending in the second quarter of 2006

  Calculate the total change in money supply

One alternative way (from the formula on p. 419) to calculate the total change in money supply when the Fed injects money into the economy or takes away money from the economy is the amount of money injected or taken away by the Fed times the mone..

  Calculate the unemployment rate

The following table gives the joint probability distribution between employment status and college graduation among those either employed or looking for work (unemployed) in the working age U.S. population for 2008.

  What is the actuarially fair price of insurance

Suppose that every driver faces a 1% probability of an automobile accident every year. An accident will on average cost each driver $10,000. Suppose there are 2 types of individuals:those w/$60,000 in the bank and those with $5000 in the bank.

  Find mean satisfaction rating

Over a period of years, a toothpaste has received a mean rating of 5.9, on a 7-point scale, for overall customer satisfaction with the product. Because of a minor unadvertised change in the product, there is concern that the customer satisfaction ..

  Find the demand function for tickets

The following table shows part of the demand function for tickets to an outdoor summer concert by a popular singing group: Price (P)...Quantity (Q) 50........... 100 35.......... 180 20............300 10............500

  Determine the expenditure approach for economy

Assume an economy with a coal producer, a steel producer, and some concumers (no gov.) in a given year, the coal producter produces 15M tons of coal and sells it for $5 a ton. the coal producer pay $50M in wages to consumers

  What is the opportunity cost in bushels of corn

Suppose that Sam considers starting with all of his land in corn. Then he thinks about increasing the amount of wheat that he grows. What is the opportunity cost, in bushels of corn, of the first bushel of wheat that he grows

  How much would government spending have to rise

assume the government plans to finance any government spending my raising taxes to cover increase in spending. How much will government spending and taxes have to rise to move economy to full employment

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