3. Consider a competitive firm with total costs given by TC(q) 10010q+ q? The firm faces a market price p = 50 (a) Write expressions for total revenue TR and marginal revenue MR as functions of output q (b) Write expressions for average total cost ATC, average variable cost AVC, and marginal cost MC as functions of output q (c) For what value of output is ATC minimized? 1 (d) Find the profit maximizing level of output q. At this level of output, what are TR, TC, ATC, and *? (e) Graph the ATC, AVC, MC, and MR curves in a single graph, and indicate the profit maximizing level of output. If there are profits, shade the region corre- sponding to profit and label it. (f) If fixed costs increase from 100 to 500, what happens to the profit maximizing level of output, TR, TC, and ? (g) If fixed costs increase from 100 to 500, should the firm continue to operate in the short-run? What about the long-run?

Where did the 1/2 come from or what is it.

I need help with 4 and 5

Fill in the table below, giving a numerical value for letters A, B, C, and D. TC AFC AVC 50 1 90 A B D 30 2.

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Question 32 Which points represent a production level that could lead to unemployment? 12 10 Thousands of sedans 8 9 4 A 2 D B C 0- 0 2 4 6 8 10 12 Thousands of convertibles Full text description Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. Q Search

how  you know what c value to look at

how was EVwSample info calculated for this problem?

Imagine you are the mayor of a town and you are trying to decide if you should pay for a fireworks show. Your staff survey your 400 citizens who say that they each value a fireworks show at $10. The fireworks show only costs $3,000 so you put on the show but when you ask for donations to pay for the fireworks you only receive $25 total. What does this result show? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. You staff's survey must have overestimated the value of a fireworks show. b The fireworks cost must have been greater than their economic benefit. The firework show suffered from the Tragedy of the Commons problems d The town's citizens were free-riders.