Question

With TC=8+Q+Q^2 (MC= 1 + 2*Q), and (separately) Prices 11, 5: a. Find Profit max Q....

With TC=8+Q+Q^2 (MC= 1 + 2*Q), and (separately) Prices 11, 5:

a. Find Profit max Q.

b. Total Profit per unit at profit max Q.

c. Profit per unit at profit max Q

d. ATC at profit max Q

e. AVC at profit max Q

f. Should the firm shutdown in the short run given these conditions?

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Q P TR MR TC MC 0 10 ---- 4 1 9 8 2 8 11...
Q P TR MR TC MC 0 10 ---- 4 1 9 8 2 8 11 3 7 13 4 6 14 5 5 16 6 4 19 7 3 24 8 2 30 What profit should this firm be earning?
Q TC MC TR AVC ATC Total Profit or Loss 0 3750 --- 0 --- ---...
Q TC MC TR AVC ATC Total Profit or Loss 0 3750 --- 0 --- --- -3750 250 7500 3750 500 8500 7500 9.50 17.00 -1000 750 9000 11250 1000 10250 15000 6.50 10.25 4750 1250 12875 10.50 18750 7.30 10.30 1500 16500 14.50 22500 8.50 1750 21625 20.50 26250 10.21 12.36 4625 2000 28125 26.00 30000 12.91 14.06 1875 Given the above table, which shows the weekly production information for bushels of soybeans, complete the following: 1) Complete the...
If P = 15, TC=10 + 5q + q^2, and MC = 5 + 2q, find...
If P = 15, TC=10 + 5q + q^2, and MC = 5 + 2q, find the perfectly competitive firm's maximum profit. If P = 15, TC=10 + 5q + q^2, and MC = 5 + 2q, find the perfectly competitive firm's profit-maximizing quantity of output.
. The table below illustrates the quantity of output (in units) and total cost (TC, in...
. The table below illustrates the quantity of output (in units) and total cost (TC, in MYR) for a perfectly competitive firm that can sell its output at MYR 9 per unit. Quantity TC TVC ATC AVC MC TR MR Profit /Loss 0 3 0 - - - 0 - -3 1 6 2 12 3 21 4 33 5 49 a. Calculate the total variable cost (TVC), average total cost (ATC), average variable cost (AVC), marginal cost (MC), total...
2. A firm combines labor (L) and capital (K) to produce output (Q). The price of...
2. A firm combines labor (L) and capital (K) to produce output (Q). The price of one unit of labor is 50 and the price of one unit of capital is 20. This firm is producing in the short run (remember that in the short run there is one fixed resource, in this case, capital). Complete the following information for this firm L K Q TVC TFC TC ATC AVC AFC MC 0 20 0 - 1 18 2 60...
Consider a competitive industry with firms that have these cost functions: TC = q^3 - 8...
Consider a competitive industry with firms that have these cost functions: TC = q^3 - 8 q^2 + 24 q   AC = q^2 - 8 q + 24 =   (q-4)2 + 8       MC = 3q^2 - 16 q + 24           In the short run, if P = 30, a.   What q will the firm produce? (Feel free to round off but show your work.) b.   What π (profit) will the firm make? (Feel free to round off...
A firm has the following short-run cost schedule: Q=0, TC=$50; Q=1, TC=$58; Q=2, TC = $62;...
A firm has the following short-run cost schedule: Q=0, TC=$50; Q=1, TC=$58; Q=2, TC = $62; Q=3, TC=$64; Q=4, TC=$65; Q=5, TC=$67; Q=6, TC=$71; Q=7, TC=$78; Q=8, TC=$88; Q=9, TC=$102; Q=10, TC=$121 At what level of output does the firm begin to experience diminishing returns? a) 7th unit b) 3rd unit c) 1st unit d) 5th unit
1) A perfectly competitive firm that sells fish has a marginal cost function given by MC...
1) A perfectly competitive firm that sells fish has a marginal cost function given by MC = 3q. The market has determined a price of P = 60. How many fish will this firm produce? 2)See the previous question about the perfectly competitive fish firm. Suppose that at this level of output, the firm has average costs of production of ATC = 42. How much total economic profit will the firm earn? 3) A perfectly competitive firm will shut down...
Q FC VC TC MC AFC AVC ATC 1 428.5 2 340 67.5 248 3 68.5...
Q FC VC TC MC AFC AVC ATC 1 428.5 2 340 67.5 248 3 68.5 4 240 5 22.5 6 616 46 7 623.5 40.5 8 78.5 9 292.5 70.28 10 300 640 30 Fill in the cost information missing in the table above
Quantity TC Price of TR ATC AVC MC MR MR-MC Profit change in good profit 0...
Quantity TC Price of TR ATC AVC MC MR MR-MC Profit change in good profit 0 10 5 0 1 15 5 5 15 5 5 5 2 18 5 10 9 4 3 5 3 20 5 15 6.67 3.33 2 5 4 21 5 20 5.25 2.75 1 5 5 23 5 25 4.6 2.6 2 5 6 26 5 30 4.33 2.67 3 5 7 30 5 35 4.29 2.86 4 5 8 35 5 40 4.38...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT