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Write down the equation for the supply curve

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a. Suppose that a firm"s production function is q = 9X1/2 in the short run, where there are fixed costs of $1000, and x is the variable input whose cost is $4000per unit. What is the total cost of producing a level of output q? In other words, identify the total cost function C(q).

b. Write down the equation for the supply curve.

c. If price is $1000,how many units will the firm produce? What is the level of profit? Illustrate your answer on a cost-curve graph.

Reference no: EM13321657

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