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

Consumer welfare.., social welfare ordinal

social welfare ordinal

Cost in the long run, Cost in the Long Run Cost minimization with the V...

Cost in the Long Run Cost minimization with the Varying Output Levels -A firm's expansion path shows minimum cost combinations of labor and capital at each level of output.

Microeconomics, When the price of candy bars increased from $.45 to $.55 th...

When the price of candy bars increased from $.45 to $.55 the quantity demanded changed from 21,000 per day to 19,000 per day. In this range the price elasticity of demand for cand

What is the distinguishing characteristic of institutions, What is the dist...

What is the distinguishing characteristic of institutions in the public purpose sphere? The distinguishing characteristic of institutions in the public purpose sphere is that t

Homework, If a person literally had “nothing else to do,” (a) What would b...

If a person literally had “nothing else to do,” (a) What would be the opportunity cost of doing this homework?

Cost of job loss, When a worker is fired orlaid off, they experience a sign...

When a worker is fired orlaid off, they experience a significant out-of-pocket cost. That cost of job loss relies on how much they were earning in their job, how long it takes them

Theories of production, Highlight the few heading of it

Highlight the few heading of it

Identify the four institutional requirements of markets, Identify the four ...

Identify the four institutional requirements of markets. The four institutional needs of markets are: Pprivate property, Social institutions of trust, Good physical i

Calculating maximum sales loss and net profit , The Healthy Spring Water co...

The Healthy Spring Water company sells bottled water for offices / homes. The price of the water is $20 per 10 gallon bottle and the company currently sells 2,000 bottles per day.

Non-existence of objective probability distributions, Non-existence of Obje...

Non-existence of Objective Probability Distributions : Let us see why expectations are volatile in nature? According to Keynes (1936, pp. 149): "Our knowledge of the fact

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages