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

Calculate the mean, You are interested in the outcomes of the children in y...

You are interested in the outcomes of the children in your workload in general functioning and school performance, and whether they are related. As a result you decide to collect s

Chap 6, For the pizza seller whose marginal, average variable, and average ...

For the pizza seller whose marginal, average variable, and average total cost curves are shown in the following diagram, what is the profit-maximizing level of output and how much

Consumer behaviours, what are the weaknes of consumer behaviour

what are the weaknes of consumer behaviour

Explain and illustrate, explain and illustrate the changing demand for big ...

explain and illustrate the changing demand for big mac using indefference curve and budget line

What are advantages of using mathematics in modern economics, What are the ...

What are the advantages of using mathematics in Modern Economics? Many of the advantages of using mathematics are as follows: a. The “language” used and the explanations of

Resource market complications, Over the course of modern American economic ...

Over the course of modern American economic history there have been market failures, various social problems, and other complexities that have resulted in certain resource markets

International monetary fund, International Monetary Fund: The Internat...

International Monetary Fund: The International Monetary Fund (IMF), the World Bank and the International Trade Organisation were conceived at the Brettonwoods Conference in Ju

What are economic and social costs of high inflation level, What are the ec...

What are the economic and social costs of high inflation levels? High inflation will have serious redistribution costs; make distortions to the economy; decrease international

How the inflation effect on import and export of the country, How the infla...

How the inflation effect on the Import and Export of the country? When general price level enhances in an economy, local currency is devalued. Economy has to spend more on imp

Define economies of scale, Q. Define Economies of Scale? Economies of S...

Q. Define Economies of Scale? Economies of Scale: Most economic production requires producing firm or organization to make an initial investment (in real capital, in design and

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages