What number of sofas will minimize the average cost

Assignment Help Econometrics
Reference no: EM13214363

The cost of producing sofas (S), is given by the cost function C(S)=10S^2+1000, and the marginal cost is given by MC=20S. What number of Sofas will minimize the average cost of production?

Reference no: EM13214363

Questions Cloud

Calculate the stocks expected return : What is the required rate of return on a stock with a beta of 1.2 and what is the required rate of return on a stock with a beta of 0.4?
Compute the ph of a solution of calcium carbonate : calculate the ph of a solution of calcium carbonate having [calcium ion]=1.3x10^-4M,[carbonate ion]=3.8x^10-5M and [HCO3]=8.8X10^-5M
What is the cost-minimizing input mix for producing units : A firm produces output according toa production function Q = F(K,L) = min {2K,4L}. a. How much output is produced when K =2 and L = 3 b. If the wage rate is $30 per hour and the rental rate on capital is $10 per hour, what is the cost-minimizing in..
State temperature of the mixture is and the total pressure : The temperature of the mixture is 0? , and the total pressure is 1.00 atm . How many grams of helium are present in the gas mixture? Mass of He =?
What number of sofas will minimize the average cost : The cost of producing sofas (S), is given by the cost function C(S)=10S^2+1000, and the marginal cost is given by MC=20S. What number of Sofas will minimize the average cost of production
What is the average cost to product 200 statuettes : You have decided to go into business producing little wooden statuettes. Your cost function for the statuettes (S) is given by C(S)=40+S+S^2. What is the average cost to product 200 statuettes
What is long-term goal of the company : Budgeting in uncertainty is challenging. The decisions made by budget managers affect the direction and future of every company. Having a thorough understanding of the components of capital budgeting is essential to developing an appropriate budge..
What will be the per-unit cost of the application : The per-unit cost of an item is its average total cost (= total cost/quantity). Suppose that a new cell phone application costs $200,000 to develop and only $0.5 per unit to deliver to each cell phone customer.
Which the competitive firm has a lower price : The costs of a purely competitive firm and a monopoly could be different because the competitive firm is unregulated. the monopoly controls the input prices. the monopoly might experience economies of scale not available to the competitive firm.

Reviews

Write a Review

Econometrics Questions & Answers

  Design a simple econometric research project

Design a simple econometric research project

  Multiplicative decomposition method

Multiplicative decomposition method

  Market for cigarettes

The Australian government administers two programs that affect the market for cigarettes.

  Solve the forecast model

Solve the forecast model

  What are the marginal abatement cost functions

What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).

  Write the t statistic for testing the null hypothesis

Explain why this model violates the assumption of no perfect collinearity.  Write the t statistic for testing the null hypothesis

  What is economics system

What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type

  Multiple choice questions related to market concentration

Determine when a competitively produced product generates negative externalities in production, the industry will,

  Calculating number of units produced by firm

Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.

  Question about mobile commerce

M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.

  Calculating the average days past due and average flow time

Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:

  Mechanism of an english auction and second price auction

Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.

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