Question

The marginal cost is given by 2( 3q - 1)3 dollars per unit, where q is the level of the production. By how much will the cost increase if the level of the production is increased from 1 to 10 units

Answer #1

In this question I have integrate the marginal cost over the given interval to get the increase in cost. Hope you understand the solution.

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The marginal cost C′(q) (in dollars per unit) of producing q
units is given in the following table.
q
0
100
200
300
400
500
600
C′(q)
26
22
20
26
33
38
46
Round your answers to the nearest integers.
(a) If fixed cost is $17,000, estimate the total
cost of producing 400 units.
The cost of producing 400 units is:
(b) To the nearest dollar, how much would the
total cost increase if production were increased one unit,...

At a certain factory, the marginal cost is 3(q - 4)2
dollars when the level of production is q units. By how much will
the total manufacturing cost increase if the level of production is
rised from 6 units to 10 units?

When production is 4300, marginal revenue is 3.5 dollars per
unit and marginal cost is 3.25 dollars per unit. Do you expect
maximum profit to occur at a production level above or below
4300?
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Equation Editor
(Enter above or below.)
If production is increased by 70 units, what would you estimate
the change in profit would be?
dπ≈
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Equation Editor
dollars

Assume the production cost (dollars/unit) for a manufacturing
unit of a certain product is given by f (x) = 2(1+x) e-x
+ 5x +250 , where x is the number of units.
Show that the marginal cost of the production will be increased
to a certain value of x, and then decreasing from there on. You can
consider x a continuous variable. For instance, it is alright to
have x=0.1, partial unit of the product. In a practical
application, you...

The marginal cost of producing the remarkable Apple iPad Pro is
?′(?)=3?2−16?+32 million dollars when producing
? million units. By how much will the total
manufacturing cost increase if the level of production is raised
from 1 million to 3 million units?

A manufacturer’s marginal revenue is ? (?) = 20? 2 + 2.5?
dollars per unit when the level of production is ? units. If the
manufacturer’s revenue is $700 when the level of production is 16
units, what is the revenue, ?(?) when the level of production is 25
units?

Suppose a product's revenue function is given by
R(q)=−7q^2+200q, where R(q) is in dollars and q is the number of
units sold.
Use the marginal revenue function to find the approximate revenue
generated by selling the 39th unit.
Marginal revenue= ? dollars per unit
A company selling widgets has found that the number of items
sold, x, depends upon the price, p at which
they're sold, according the equation x=40000√5p+1
Due to inflation and increasing health benefit costs, the company...

1) At equilibrium:
Marginal benefit = Marginal private cost
9 - Q = 2Q
9 = 3Q
Q = 3 units
2. Market price, P = 9 - 3 = $ 6
3. Social optimal:
Marginal benefit = Marginal social cost i.e. MPC + MEC
9 - Q = 2Q + Q
9 = 4Q
Q = 2.25 units
4. Social optimal price = 9 - 2.25 = $ 6.75
-------What is the deadweight loss?
------How much would a corrective...

For each cost function (given in dollars), find the cost,
average cost, and marginal cost at a production level of 1000
units; the production level that will minimize the average cost;
and the minimum average cost.
C(q) = 6,000 +
340q − 0.3q2 +
0.0001q3
(a) the cost, average cost, and marginal cost at a production
level of 1000 units
(b) the production level that will minimize the average cost
(Round your answer to the nearest integer.)
(c) the minimum...

1.If the total cost function is C(Q) = 15Q2+ 10, what
is the marginal cost?
10/Q
15Q
15Q+10/Q
30Q
None of these.
2.When a firm increased its output by one unit, its AFC
decreased. This is an indication that
the law of diminishing returns has taken effect.
MC < AFC.
AVC < AFC.
the firm is spreading out its total fixed cost.
3.If the production function is f(L, K) = aL +2aK where a > 0
is a constant, L...

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