Managerial economics, economics, Microeconomics

Assignment Help:

Below are the two estimated cost functions. describe what type of data was most likely used to estimate each one and why. Explain which is a short- run function, determine the level of output for which the firm encounters diminishing returns to the variable output; and the output level of minimum average variable cost(AVC). For the long run function, determine the smallest plant size which will minimize cost per unit of output.
a. TC=20,000Q-5000Q +0.0Q
b. TC= 150,000+20,000Q-3500Q+0.05Q

Related Discussions:- Managerial economics, economics

Assignment, suppose you have a coffee shop. list of fixed input and variabl...

suppose you have a coffee shop. list of fixed input and variable input for operating the shop. ques-2 describe the condition under in which labour treated as variable cost and whic

Currency was used in the 1700s, What currency was used in the 1700s? Ans...

What currency was used in the 1700s? Ans) this is depends on the country. Most currencies, though, were based on gold and silver. In America, in the 13 colonies, tobacco wa

Fixed exchange rate system, FIXED EXCHANGE RATE SYSTEM: National curre...

FIXED EXCHANGE RATE SYSTEM: National currencies are generally acceptable within the geographical boundaries of a country. As such, trade between countries typically involves

Explain how unemployment could be voluntary or involuntary, Explain how une...

Explain how unemployment could be voluntary or involuntary . Start off with a definition of the labour force and then outline the proportion of the labour force which would be

Trend projection methods, An ole firm can use its own data of past years re...

An ole firm can use its own data of past years regarding its sales in past years. These data are known as time series of sales. A firm can predict sales of its product by fitting t

Mrs and mrts, compare marginal rate of technical substitution and marginal ...

compare marginal rate of technical substitution and marginal rate of substitution

Diminishing MRS, why diminish MRS?

why diminish MRS?

Describe the concept of opportunity cost, Problem 1: a. Describe the co...

Problem 1: a. Describe the concept of opportunity cost, using the production possibility curve. b. What are the fundamental problems of an economy? Describe how the command

Opportunity cost, explain the relationship between scarcity,choice and opp...

explain the relationship between scarcity,choice and opportunity cost

Demand for risky assets, Demand for Risky Assets * Assets - Somethi...

Demand for Risky Assets * Assets - Something which provides a flow of money or services to its owner. - The flow of money or services can be explicit or implicit . *

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages