What is this firm’s marginal cost function

Reference no: EM131335831

1. Suppose a firm faces the inverse demand curve P = 600Q^-?0.5 . The firm has the total cost curve TC = 1,000 + 0.5Q1.5 . Find the firm's profitmaximizing output, price, and profit.

2. Consider a firm in a perfectly competitive market with total costs given by
TC = Q³ - 15 Q² + 100Q + 30

a. What is this firm's marginal cost function? Over what range of output are the firm's marginal costs decreasing? Increasing?

b. Suppose that the market price is $52. What is this firm's profit-maximizing level of output? How do you know this is the profit-maximizing output? How much profit does this firm earn by producing the profit-maximizing output?

Reference no: EM131335831

Questions Cloud

Exercise first amendment rights : "I believe that anyone working for any company should be able to exercise their first amendment rights, but it should be said for themselves and not on behalf of the company."

Brief description of the selected manuscript : Provide a brief description of the selected manuscript. Identify the selection criteria and methods, and discuss how they relate to the needs of the organization in the case.

Which ethical system is most prevalent : Which ethical system is most prevalent in the United States today? In the World? Explain your answer and support your response - Which ethical system most closely matches your personal ethical system? Why do you think so? Explain your position.

Identify specific social problems and their cause-effect : Identify specific social problems and their cause-effect patterns. Illustrate how the sociological process enables us to identify various social concerns. Apply sociological theories to explain the occurrence and scope of these problems

What is this firm’s marginal cost function : Suppose that the market price is $52. What is this firm's profit-maximizing level of output? How do you know this is the profit-maximizing output? How much profit does this firm earn by producing the profit-maximizing output?

Totally opposite position and disagrees : An article in Forbes Magazine August 9, 2014 by Kathy Caprino takes a totally opposite position and disagrees. Please comment and tell me which one you feel is most relevant and correct and why.

Simplicity of theory x theory y with complexity : In 750-1000 words, contrast the simplicity of Theory X Theory Y with the complexity with more contemporary theories such as self-determination and cognitive evaluation.

Why is mead model of human existence incapable : Why is Mead's model of human existence incapable of accounting for conflict? First explain the authors point view then explain your point of view.....Opinion agree or disagree

Write about the main beliefs rituals : Write about christianity, hinduism and buddhism and talk about those religions and then what you have learned about it as well. You can write about the "main beliefs" "rituals" and "ethical teachings" and compare it to one another.

User Account

All Pages