Question

A firm’s total cost function is given by: TC = 5000 + 4100Q – 8Q2 +...

A firm’s total cost function is given by: TC = 5000 + 4100Q – 8Q2 + 0.004Q3   What is the minimum price the firm can accept so it does not have to shut down in the short-run?

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
A firm’s total cost function is given by: TC = 10000 + 8200Q – 16Q2 +...
A firm’s total cost function is given by: TC = 10000 + 8200Q – 16Q2 + 0.008Q3 What is the minimum price the firm can accept so it does not have to shut down in the short-run? Select one: a. 50 b. 100 c. 200 d. None of the above
Consider a firm with a short run Total Cost (TC) given by TC=200 + 30Q -...
Consider a firm with a short run Total Cost (TC) given by TC=200 + 30Q - 5Q^2 + Q^3. What is the firm’s fixed cost? What is the firm’s marginal cost? What is firm's shut down price?
A perfectly competitive firm’s total cost function is given by: TC = 400+4Q2 . How much...
A perfectly competitive firm’s total cost function is given by: TC = 400+4Q2 . How much output does the firm produce in the long-run? What is the price of the product in the long-run?
A perfectly competitive firm’s total cost function is given by: TC = 200+2Q2 . How much...
A perfectly competitive firm’s total cost function is given by: TC = 200+2Q2 . How much output does the firm produce in the long-run? What is the price of the product in the long-run?
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...
A perfectly competitive firm’s total cost function is given by: TC = 200+2Q2 . You also...
A perfectly competitive firm’s total cost function is given by: TC = 200+2Q2 . You also know that the market demand function for this product is: QD=100-P. How many firms are in the market in the long-run? Select one: a. N=10 b. N=8 c. N=6 d. None of the above
2. Consider a perfectly competitive firm with total costs ?? = ? + ?? + ??2...
2. Consider a perfectly competitive firm with total costs ?? = ? + ?? + ??2 a) Identify the fixed cost ??, and the variable cost of this firm, ??(?). (Each of them is just a part of the total cost.) b) Find the average cost ??(?), and the marginal cost ??(?). c) Long-run supply. Find the minimum of the ??(?) curve, which constitutes the “shutdown price” in a long-run setting. Use this “shut-down price” to describe the firm’s long-run...
10. Suppose a perfectly competitive firm has the following total cost function: TC = 10 +...
10. Suppose a perfectly competitive firm has the following total cost function: TC = 10 + (0.1 ∗ q^2). The market demand is given by Q = 100 – 10p. If p = 10, the firm's profits will be A) 240. B) 250. C) 260. D) -10 because the firm will shut down.
Consider the following total cost function for Firm A: TC(Q)=4Q3-12Q2+2Q+1,000,000. Calculate TVC, AVC, TFC, AFC, AC....
Consider the following total cost function for Firm A: TC(Q)=4Q3-12Q2+2Q+1,000,000. Calculate TVC, AVC, TFC, AFC, AC. Does this cost function satisfy the law of diminishing returns? Hint: MC(Q)= 12Q2-24Q+2 Consider the following Long-run average cost function for Firm A: TC(Q)= 12Q+4 (Q represents the scale of operation). Does this firm benefit from scaling down? Explain your answer.
3. Suppose that a price-searcher monopolist had a total cost function given by: TC= 20 +...
3. Suppose that a price-searcher monopolist had a total cost function given by: TC= 20 + 2Q +0.25Q2. The demand for the price searcher's product is given by: QD= 100 -5P. Calculate the price the monopolist will charge. (Do not include a dollar sign in your response. Round to the nearest two decimals.) 4. Suppose that a price-searcher monopolist had a total cost function given by: TC= 20 + 2Q +0.25Q2. The demand for the price searcher's product is given...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT