User Account

All Pages

Write down the firm total cost function

Assignment Help Business Economics
Reference no: EM132274909

A price-taking firm has marginal cost MC = 20 + 10q, average variable cost AVC = 20 + 5q, and fixed costs of 500, where q refers to the output of the firm.

a. Write down the firm's total cost (TC) function.

b. What is the firm's profit-maximizing output if the market price is 100?

c. Is the firm making (economic) profit?

Reference no: EM132274909

Questions Cloud

Post to the General ledger and Subsidiary Ledger accounts : Accounting Cycle Question - Post to the General ledger and Subsidiary Ledger accounts (Using running balance accounts). Journalise the transactions
What was the framers opinion of human nature : What was the Framer's opinion of human nature? Were they justified in this view? Do the ideas expressed in the Federalist papers still work today?
What effect would this have on overall profits : The government is concerned that the firm has grown too big, and splits it into two smaller firms of equal size. What effect would this have on overall profits?
What is your position on the values debate today : What's your position on the values debate today, where some OD practitioners think that OD is getting too focused on efficiency
Write down the firm total cost function : a. Write down the firm's total cost (TC) function. b. What is the firm's profit-maximizing output if the market price is 100?
What future trends are for both civil and economic rights : Create a PowerPoint Presentation that gives the history of both civil and economic rights. Then as a conclusion, based on the research you have completed.
Shut down point compared to the avc curve : In Pure Competition, where is the shut down point compared to the AVC curve?
How many boats to available for upcoming trip down the river : The manager of a tour-boat company must decide how many boats to use available for an upcoming trip down the river.
Completed charter for your office relocation project : You have now completed the charter for your office relocation project. What additional considerations must be given to accomplish this scope change?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

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

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd