3. Assume a firm is facing the market demand curve: q = 100-2p, its total cost function is: c(q) = 2q². a. What is the firm's marginal revenue? b. What is the firm's marginal cost? c. What is the output level "q" when the firm is maximizing its profit? d. What is the firm's maximum profit?

"A profit maximizing firm seeks to produce at an output where its marginal revenue is equal to its marginal costs." Agree or disagree with this statement.

Flag 1. A company faces TC = y2 + 12 and market demand y = 24 – p. a) What is the firm’s profit?, b) At the profit-maximizing price, c) what is the firm’s marginal revenue? please explain each step:)

1. Suppose you are the owner of a burger restaurant that has a cost of production given by C = 400 + 0.02q^2 where q is the number of burgers produced per day. Assume that the market for burgers is perfectly competitive. a. If the market price for a burger is $10, how many burgers should the manager plan to produce in a day? b. What is the profit level? Is this the maximum profit that the restaurant can make per day? c. What output will the firm produce if the price of a burger goes down to $8?

1. Competitive market Practice problem Wheat farmer Joe has the cost function of C(q) 160,000 + 100q+q². The market for wheat is competitive and there are many farmers like this, with the same cost function. The demand function is Q = 15000 - 10p. = (a) In the short run, below which price should Joe shut down? (b) In the short run, there are 19 farmers like Joe (so 20 farmers in total). How much should Joe produce? What will the price be? (c) What is the price below which Joe would shut down in the long run? (d) How many farmers will operate in the long run? (e) What is the market elasticity of demand at long-run equilibrium point?

3. A firm faces the demand equation p = 190 – 0.6q and the total cost function TC = 40 + 30q + 0.4q² a. Find the profit-maximizing quantity of output. b. Confirm that this quantity represents maximum profits. C. Find the price that corresponds to this quantity.

1. Suppose a perfectly competitive firm has a cost function described by TC = 200Q+Q² +225 Each firm's marginal revenue is $240. a. Find the profit maximizing level of output. b. Is this a short-run or long-run situation? How do you know? c. Assuming that this firm's total cost curve is the same as all other producers, find the long-run price for this good.

A profit-maximizing firm decides to shut-down production in the short-run. Its total fixed cost of production is $100, i.e. TFC = $100. Which of the following statements is true?   a If the firm produced, the firm's revenues would have been lower than $100.  bIf the firm produced, the firm's total variable cost must be lower than $100. cIf the firm produced, the firm's losses would have been higher than $100. dIf the firm produced, the firm's total variable cost would have been higher than $100.

Question 7 A firm, focusing on producing toothpaste has a demand function 2? = 10 − 0.25?. If fixed cost per unit is -(+ and variable cost per unit function is 2? − 20 + -)), where Q is number of toothpastes produced and P is the price per toothpaste: a) Determine the number of toothpastes that maximizes the company’s profit. b) How much should the firm charge for one toothpaste? c) Find the total profit at the profit maximizing level of output. d) Using the own price elasticity of demand, comment on the firm's pricing policy options.

Explain it early but correctly.