Assume a competitive firm faces a market price of $120, and a cost curve of: C = 0.004q° + 25q + 750. Marginal cost (MC) equals MC = (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g, a superscript can be created with the ^ character.) %3D
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- Vinnie’s Painting Company specializes in painting houses. Their cost schedule is as follows:Output TFC TVC TC AFC AVC ATC MC 0. 10001. 1002. 1003. 4004. 4505. 16006. 32007 6400 A) Given the partial data available, finish the table and calculate all the costs. B)What is the minimum efficient scale of Vinnie’s company?C)What is the marginal cost of 6 houses?D)If Vinnie charges $825 per house, how many houses he should paint to maximize profit2.1 A manufacturer estimates that its variable cost for manufacturing a given product is given by the following expression: C(q) = 25q² + 2000q [$] where C is the total cost and q is the quantity produced a. Derive an expression for the marginal cost of production b. Derive expressions for the revenue and the profit when the widgets are sold at marginal cost.11.2 The cost, in thousands of dollars, of airing x television commercials during a sports event is given by C(x) = 20 + 3,000x + 0.01x2. (a) Find the marginal cost function C'(x). HINT [See Example 1.] C'(x) = Use it to estimate how fast the cost is increasing when x = 4. thousand dollars per television commercialCompare this with the exact cost of airing the fifth commercial. The cost is going up at the rate of $ per television commercial. The exact cost of airing the fifth commercial is $ . Thus, there is a difference of $ . (b) Find the average cost function C, and evaluate C(4). HINT [See Example 2.] C(x) = C(4) = thousand dollars per television commercial What does the answer tell you? The average cost of airing the first four commercials is $ per commercial.
- A company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs are $ 50000. They will sell the CD's for $ 79 each. Let a be the number of CD's produced. Write the total cost C as a function of the number of CD's produced. C =$ Write the total revenue R as a function of the number of CD's produced. R=$ Write the total profit P as a function of the number of CD's produced. P=$ Find the number of CD's which must be produced to break even. The number of CD's which must be produced to break even is Question Help: Video Submit QuestionThe total cost of producing mobile phones is TC = 10 + 70q + 30q^2 l. Calculate the marginal cost.Suppose an avocado farm has cost C=0004g- 28g 1250 (ahere g is measured in bunches) The market price per bushel of avocados is $28 In the short run, thig firm's profit is N (Round your response to the nearest penny)
- When output increases from 10 to 11, total cost increases from $60 to $65. Fill in the blank. Round to the nearest integer if necessary. The marginal cost of increasing output from 10 to 11 is $ ??A price-taking firm makes air conditioners. The market price of one of its new air conditioners is $130. The firm's total cost information is given in the table below: Instructions: Calculate marginal cost, and enter your responses as whole numbers. Air conditioners per day Total cost Marginal cost ($ per day) ($ per day) 1 100 100 2 150 3 220 4 310 5 405 6 510 7 650 8 800 How many air conditioners should the firm produce per day if its goal is to maximize its profit? air conditioners per day.Is this graph a valid set of cost curves? True/False
- 10 ATC ATC2 ATC3 ATC, 2 2 4 6 8 10 Quantity (thousands of copies per day) A copy shop is choosing between four different operational sizes (ie, plant size). The average total cost curve for each option is shown in the graph. If the market demand for copies is 12,000 copies per day, how many copy shops would you expect to see in this market? The answer depends on the price of a copy, which is unknown. O 1 (because the copy shop will become a monopoly with a large quantity demanded) O (because the copy shop can't produce 12,000 copies efficiently and will shutdown) 3 (with each shop supplying 4000 copies per day) 8, 6 Average cost (cents per copy)The table below displays cost information for the production of volleyballs. Fill in the missing values corresponding to the empty cells. Quantity Average Variable Cost Fixed Cost Variable Cost Total Cost Marginal Cost 30 30 n/a 1 12 12 25 D 3 A 72 14 F A = type your answer. B = type your answer. C= type your answer. D= type your answer. E = type your answer.. F = type your answer.We expect the marginal cost to increase as this firm produces more computers. But when the firm shifts from producing 1 to 2 computers, marginal cost falls. What might explain this?