The market for a particular consumer good has a demand function given by:  and supply given by: q = 24 - p and supply given by p = q + q^2, where q is the quantity and p is the price. Question: In equilibrium, what is the consumer’s surplus?

Q: Suppose that the monthly marginal cost for smokejumper harness straps is MC production of 14 units…

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Q: A manufacturer estimates that the cost of producing x items is C(x) = 250 + 3x + 0.001x2 a. Find the…

A: A manufacturer estimates that the cost of producing x items is…

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A: Given Fixed cost=$20,000 Production cost of each canoe=$20

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Q: Suppose that the marginal cost function of a handbag manufacturer is C'(x) = 0.046875x² - x+275…

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Q: 2. Suppose that the Demand is a downward-sloping straight line. Does it mean that the (own) price…

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Q: The demand function for an office supply company's line of plastic rulers is p=0.85- 0.000459, where…

A: Assume p=0.85−0.000459qTotal revenue=TRq=p×q=0.85−0.000459q×qSo , TR(q)=0.85q−0.000459q2

Q: The minimum average cost occurs when the average cost is equal to the marginal cost.

A: Answer is True.

Q: Suppose a company manufactures MP3 players and sells them to retailers for $98 each. It has fixed…

A: Topic:- cost and marginal function

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A: Given query is to find the rate of change of price.

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A: Given: To explain the given statement as follows, Here, the Marginal Revenue = 220000 - 18x. To find…

Q: he cost function for the manufacture of x number of goods by a company is C(x) = . Find the level of…

A: Given the cost function, the marginal cost (MC) equation is; C(x) = x3−9x2+24xdC(x)dx=3x2-18x+24

Q: Prove that the production level (if any) at which average cost is smallest is a level at which the…

A: Prove that the production level (if any) at which average cost is smallest is a level at which the…

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A: Homogeneity Principle : Principle of Homogeneity states that dimensions of each of the terms of a…

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Q: Suppose that the price p of a product abd its demand x are related through the price-demand equation…

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Q: The cost function of a company as a function of units produced x is C(x)=181+43x−0.02x2.   What is…

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Q: a) A company's marginal cost function is .015x² – 2x + 80 dollars, where x denotes the number of…

A: A company's marginal cost is 0.015x2-2x+80x is the number of units produced in one day.The fixed…

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A: Please see the explanation below

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A: To solve the following question

Q: How do you determine whether demand is inelastic?  elastic?  Describe what a corporation should do…

A: Let q = f (p), where q is the demand at a price p. Then, the elasticity of demand E is,

Q: The total cost of producing 1 unit of a product is C(x, y) = 36 + 8x + 4y + ху dollars where x is…

A: Given the total cost of producing 1 unit of a product is Cx,y=36+8x+4y+xy44

Q: Describe elasticity of demand in your own words.

A: Elasticity of Demand A change in the price of a commodity affects its demand. We can find the…

Q: Suppose a product has a daily marginal revenue MR = 50 and a daily marginal cost MC = 30 +x, both in…

A: Given Data: The marginal revenue is: MR=50 The marginal cost is: MC=30+15x The fixed cost is:…

Q: Suppose that the marginal cost function of a handbag manufacturer is C'(x) = 0.046875x2 – x + 425…

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Q: (Please give a clear and elaborate solution) A company determined that the price-demand and cost…

A: Marginal profit

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A: Given problem is : A manufacturer of a new patented product has found that he can sell 70 units a…

Q: A demand function for a product is P = 100 – 2.2Q and its supply function is P = 2.8Q, where P is…

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Q: us Econ 4.5.87 - 2200x A firm has the marginal-demand function D'(x) = Find the demand function…

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Q: 5. A fence must be built to enclose a rectangular area of 2,000 ft². Fencing material costs $2.50…

A: NOTE: Refresh your page if you can't see any equations. . x=length y=width the area is given by…

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Q: 2 9. For the cost function C(x)= 500x+.01x+400 a) find the average cost function and find the demand…

A: Cost function C(x) = 500x + 0.01x2 + 400   Average cost function Ax = Total cost functionNumber of…

Q: 5. A fence must be built to enclose a rectangular area of 3, 000 ft². Fencing material costs $2.50…

A: Topic = Algebra

Q: Suppose that in a certain market the demand function for a product is given by 60p + q = 2100 and…

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Q: Company A is currently producing 25 units and their marginal profit function is 120 - . Find the…

A: Given: MP(x)=120−45xP(25)=3000

Q: A firm knows that the demand function of its good is linear. It is also knows that it can sell 1000…

A: Let us take demand function as D(x)

Q: A product can be produced at a total cost of C(x) = 500 + 100x² + x³ dollars, where x is the number…

A: Solved below.

Q: The cost of controlling emissions at a firm goes up rapidly as the amount of emissions reduced goes…

A: Given,            C(q) = 4,500 + 200q2 where q is the reduction in emissions.

Q: A manufacturer has a monthly fixed cost of $60,000 and a production cost of S10 for each unit…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: IA product has demand function given by p(x) = 400 – 5x. Find the marginal revenue when x = 12

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Q: The monthly demand function for a product sold by a monopoly is p = 2080 – Ex2 dollars, and the…

A: Given that: The monthly demand function for a product sold by a monopoly is, p=2080-13x2 And the…

Q: The price-demand equation of a certain bag is given by z = 6000 - 30p, where a is the number of…

A: Given: The price demand equation is x=6000-30p, where x is number of units that can be sold monthly…

Q: Suppose that the price p of a product and its demand x are related through the price-demand equation…

A: First, let us solve demand equation: So it is x in terms of p Let us find dxdp

Q: How to find the Marginal cost if the cost function is equal to a number with only one x value. For…

A: Given query is to find the marginal cost.

Q: If the marginal revenue function for a manufacturer's product is dr = 2000 – 20q – 3q² dq Find the…

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