Question

If TR = 80Q and TC = 5Q2+50Q+200 a. The firm is in the short run...

If TR = 80Q and TC = 5Q2+50Q+200

a.

The firm is in the short run charging a price of 80 and has an ATC of 5Q+50+[200/Q]

b.

The firm is in the short run charging a price of 80 and has an ATC of [5Q+50+200]/Q

c.

The firm is in the long run charging a price of 80 and has an ATC of 5Q+50+[200/Q]

d.

The firm is in the long runcharging a price of 80 and has an ATC of [5Q+50+200]/Q

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
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?
Shut down point is where AR=AVC AR is given as 500 Given TC= 5500+5Q2 means TFC=...
Shut down point is where AR=AVC AR is given as 500 Given TC= 5500+5Q2 means TFC= 5500 and TVC= 5Q2 (because TC=TFC+TVC and TFC is constant in the short run) This means AVC=TVC/Q= 5Q Shut down point will be whree 5Q=500 i.e. where Q=100 ii) profit = TR-TC= (AR*Q)-TC= 500Q- 5500-5Q2 for profit maximisation level of the first order derivative must be equated to zero and the second order derivative must be less than 0 First order derivative of profit...
A firm faces the revenue curve, TR = 80Q – 3Q2 , and has the cost...
A firm faces the revenue curve, TR = 80Q – 3Q2 , and has the cost equation: TC = 200 + 20Q. a. Find the value of maximum profit. © (6pts) b. If I were to ask you to find the Lagrangian multiplier and interpret it, you wouldn’t be able to. Why not? State the 2 reasons that make it impossible for you to do it. © (6pts)
A firm faces the revenue curve, TR = 80Q – 3Q2, and has the cost equation:...
A firm faces the revenue curve, TR = 80Q – 3Q2, and has the cost equation: TC = 200 + 20Q. a. Find the value of maximum profit. ©(6pts) b. If I were to ask you to find the Lagrangian multiplier and interpret it, you wouldn’t be able to. Why not? State the 2 reasons that make it impossible for you to do it
The total cost function for a firm in a perfectly competitive market is TC = 350...
The total cost function for a firm in a perfectly competitive market is TC = 350 + 15q + 5q2. At its profit maximizing quantity in the short-run, each firm is making a loss but chooses to stay open. Which of the following is/are necessarily true at the profit maximizing quantity? MR = 15 + 5q P>15 AR > 350/q + 15 + 5q Both A and B are true. Both B and C are true. All of the above...
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
Suppose a representative perfectly competitive firm has the following cost function: TC = 100 + 5Q2....
Suppose a representative perfectly competitive firm has the following cost function: TC = 100 + 5Q2. The short-run market demand and supply are given by: QD = 600 - 40P and QS = 20P. How many firms are in the market in the short-run?
1. The short-run cost function of a company is given by the equation TC=200+55q, where TC...
1. The short-run cost function of a company is given by the equation TC=200+55q, where TC is the total cost and q is the total quantity of output. If the company produced 100 units of the good, what is the average fixed cost? A. 200 B. 55 C. 2 D. 100
1. In the short run, the firm ________ change the number of workers it employs but...
1. In the short run, the firm ________ change the number of workers it employs but ________ change the size of its plant. A) can; can B) can; cannot C) cannot; can D) cannot; cannot 2.Jill runs a factory that makes lie detectors in Little Rock, Arkansas. This month, Jill's 34 workers produced 690 machines. Suppose Jill adds one more worker and, as a result, her factory's output increases to 700. Jill's marginal product of labor from the last worker...
For the following total revenue and total cost functions of a firm: TR = 22Q-0.5Q2 TC...
For the following total revenue and total cost functions of a firm: TR = 22Q-0.5Q2 TC = 1/3 Q3 - 8.5Q2 + 50Q+90 . a) Determine the level of output at which the firm maximizes its total profit. b) Determine the maximum profit that the firm could earn.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT