Question

Suppose a firm's total cost function is T C ( Q ) = 80 + 9...

Suppose a firm's total cost function is T C ( Q ) = 80 + 9 Q − 0.75 Q 2 + 0.03 Q 3. To the nearest $0.01, what is the firm's exit price?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Suppose a firm's total cost function is T C ( Q ) = 80 + 9...
Suppose a firm's total cost function is T C ( Q ) = 80 + 9 Q − 0.75 Q 2 + 0.03 Q 3. To the nearest $0.01, what is the firm's shutdown price?
Suppose a firm's total cost function is TC = 80+9Q-0.75Q^2+0.03Q^3T C ( Q ) = 80...
Suppose a firm's total cost function is TC = 80+9Q-0.75Q^2+0.03Q^3T C ( Q ) = 80 + 9 Q − 0.75 Q 2 + 0.03 Q 3. Suppose the competitive market price P is $12.48/unit. To the nearest $0.01, what is the firm's profit? To solve, you must use the fact that to maximize profit, the firm will set its output to satisfy P = M R = MC ( Q ) = d T C ( Q ) d...
A firm has a Total Cost function that depends on its output Q: T C (...
A firm has a Total Cost function that depends on its output Q: T C ( Q ) = 62 + 17 Q - 2.8 Q^2 + 0.42 Q^3 To the nearest $0.01/unit (no $ sign), what is the firm's Exit Quantity (optimal production at the Exit Price)?
A firm's total cost of producing Q units of output is C (Q) = 200 +...
A firm's total cost of producing Q units of output is C (Q) = 200 + 50Q. The inverse demand curve for the firm's product is P(Q) = 80-Q, where P denotes the price of the product. a) If the price of the product is set equal to the firm's average, how much will the firm produce? Hint: choose the larger of the two numbers. Show your work. b) If the firm is under marginal cost pricing, how many units...
a) A firm's long-run total cost function is given by LTC = 115,000 Q – 500...
a) A firm's long-run total cost function is given by LTC = 115,000 Q – 500 Q 2 + Q 3, where long-run marginal cost is given by LMC = 115,000 – 1,000 Q + 3 Q 2. At what range of output does this firm have economies of scale?
Suppose that a firm's production function is Q = 10L1/2K1/2. The cost of a unit of...
Suppose that a firm's production function is Q = 10L1/2K1/2. The cost of a unit of labor (i.e. the wage) is $20 and the cost of a unit of capital is $80. a. What are the cost minimizing levels of capital and labor if the firm wishes to produce 140 units of output? b. Illustrate your answer for part (a) on a well-labeled diagram that shows the firm's production isoquant and isocost equation.
Suppose a firm's total cost function in the long run cost c(y) = (y2/2048) + (1/y)...
Suppose a firm's total cost function in the long run cost c(y) = (y2/2048) + (1/y) a) At what price will the firm start offering positive supply? b) What amount will it offer at the price in (a)?
. The firm's total cost function is TC(q)=1/4q2 Demand in US is Q=100-2Pa Demand in Canada...
. The firm's total cost function is TC(q)=1/4q2 Demand in US is Q=100-2Pa Demand in Canada is 100-4Pc. What is the price for each country?
Suppose that a firm's fixed proportion production function is given by q = min(2k, 4L), and...
Suppose that a firm's fixed proportion production function is given by q = min(2k, 4L), and that the rental rates for capital and labor are given by v = 1, w = 3. A) Calculate the firm's long-run total, average, and marginal cost curves. B) Graph these curves. C) Suppose that k is fixed at 10 in the short run. Calculate the firm's short-run total, average, and marginal cost curves and graph them. D) Now suppose in the long run...
Consider the following total cost function for an individual firm: C(q) = 10+ q + (1/4)q^2...
Consider the following total cost function for an individual firm: C(q) = 10+ q + (1/4)q^2 The industry demand is estimated to be: Q = 100 - P 1) Now suppose there is a monopolist facing the industry demand. Write down the monopolist's pro t function. 2) What is the equation of the monopolists marginal revenue function? Also, explain how the monopolist's marginal revenue function differs from the marginal revenue function of a firm in a long-run perfectly competitive market....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT