A firm’s estimated long-run total cost function is LRTC = 160Q - .6Q2 + .002Q3.  Suppose the firm is producing 100 units of output.  The cost elasticity is ____. You can use a Excel  spreadsheet or otherwise to find the answer

Q: If the firm hires 5 employee, total fixed costs equals

A: Total fixed cost is the cost which is even exits when output is zero. So at zero output we have the…

Q: For the cost function C(x) 125x + 375 x+7 where C is in dollars and x is the number produced in…

A:

Q: Assume that the situation can be expressed as a linear cost function. Find the cost function.…

A: The total cost function comprises of variable costs and fixed costs. The fixed costs remain the same…

Q: The average cost for a firm is given as a function as follows:- AC 3Q²-6Q + 20 = Calculate the Total…

A: WE Know that the average cost simply defined as the total cost per unit of output.  That is :- AC =…

Q: A firm’s estimated long-run total cost function is LRTC = 160Q - .6Q2 + .002Q3.  Suppose the firm is…

A: Cost elasticity refers to the responsiveness of cost with respect to the change in output level . It…

Q: Economies to scale refer to

A: Companies benefit from economies of scale as manufacturing gets more efficient.Economies of scale…

Q: For a production function at a given level of output in the short run, the marginal product of labor…

A: Marginal product of labor refers to the extra unit of output produced when an additional unit of…

Q: If short run total costs are 2q2 + 50q + 50, and output is 15, average variable costs will be 80.…

A: Given; Total cost; TC=2q2+50q+50 Formula to calculate average variable cost:-…

Q: Marsha made an extensive study into the cost function of the dining halls on the A&M campus. She…

A: Marginal cost is the additional cost incurred when one more unit of output is produced. It is the…

Q: Cost is in dollars and x is the number of units. Find the marginal cost function. MC for the given…

A: Given data: Cx=700+5x+0.04x2

Q: You are given the following long-run cost function: TC = 150Q - 20Q2 + 1.8Q3 What level of Q will…

A: Economies of scale is where slope of long run average cost <0, while disceconomies of scale comes…

Q: The total cost function of a firm is:- 23Q² - 13Q + 40 Find the average cost function

A: The total cost (TC) is divided by the entire output to get the average cost of production (Q). All…

Q: The average cost function of a firm is:- 2Q² - 350 Find the total cost function

A: The data presented in the question above is:- We are given with the average cost function of a firm…

Q: Does a relationship exist between increasing returns to scale and long-run average cost? Ex with the…

A: Economies of scale or increasing returns to scale are utilized conversely; both implies to a fall in…

Q: (a) Find the number of hours for which each cost function will give the same cost. hours (b) !f the…

A: Fron the provided data, Acme (x); 140+10x Bell (x);200+4x

Q: For a short-run cost function which of the following statements is (are) not true?

A: The marginal cost function intersects the average variable cost function where the average variable…

Q: How do costs vary in response to changes in the quantity of a variable input? In your own words. 250…

A: In economics, the concept of costs and their relationship with the quantity of a variable input is…

Q: If the short-run total cost function for a firm is TC = 3,000+100Q, Given: TC = 3,000 + 100Q TC =…

A: Marginal cost (MC) = dTC/dQ = 100

Q: A firm's short-run cost function is C(a) = 240q – 69° + 0.6q° + 600. Determine fixed cost, F;…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Consider the total cost function, TC = 25 + 6Q - 5Q^2 + 6Q^3 Find the marginal cost if firm want to…

A: Marginal cost is nothing but the cost incurred to the firm when they want to produce additional unit…

Q: What is this firm's efficient scale?

A: The production level at which a company achieves the lowest ATC per unit is referred to as its…

Q: If the average variable cost is OMR 74 and total fixed cost is OMR 100 at 5 units of output, then…

A:

Q: Consider the following cost function: C(Q) = 1000+0.1Q I| Calculate total costs when Q=100 O 1,001…

A: Total cost function shows the relationship between cost and output produced. To determine cost at a…

Q: The total cost function of a firm is:- 23Q? - 13Q + 40 Find the average cost function

A:

Q: A company's marginal cost function is MC(x) (given below), where x is the number of units. Find the…

A: In Economics, marginal cost is the change in the total cost that arises when the quantity produced…

Q: If variable costs for a firm is $660, the average total cost is $8, and the firm sells 120 units,…

A: Variable cost as the name suggests changes with respect to the output produced. For example- the…

Q: Suppose the total cost equation of  firm is  50 + 56q^2 . calculate the MC

A: The marginal cost can be determined by using the below formula:

Q: The following cost data are for a firm in the short run: Output Total Cost 0 $400 1 500 2 550 3 600…

A: The firms in the market tend to estimate their fixed costs, variable costs, total costs, revenue,…

Q: Compute the average variable cost, average cost, and marginal cost for each function.

A: Total cost is the cost that is incurred in production of a hiven level of output.Variable cost is…

Q: Firm X is producing 1000 units, selling them at $15 each. Variable costs are $3 per unit and the…

A: Fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: Fill in the missing data using the cost calculations for short run costs

A: Calculate TVC by subtracting TFC from TC. TVC=TC-TFC Calculate MC by subtracting TCn from TC n-1.…

Q: Find the cost function for the marginal cost function. c'(x) = 0.06 e 001x. fixed cost is S7 C(x) =|

A: We are going to find total cost function by integrating marginal cost function to answer this…

Q: Find the value of explicit cost of the firm if the revenue generated is $8000 and the accounting…

A: The values given are:- Total revenue = $8000 And accounting profit = $5500 We can calculate the…

Q: The cost function of a firm is given as C1 = 400 + 200 + 4Q" using this cost function what is the…

A: here we calculate the efficient scale of the firm by using the cost function so the calculation of…

Q: Which of the following are relevant to a firm’s decision to increaseoutput: (a) short-run average…

A: The total cost incurred by firms operating in a market includes fixed costs and variable costs.…

Q: A firm estimates its production function as Q = -2.4 + 20*L -.5*L2 + 30*K -1.00*K2 + 15*F -.3*F2.…

A: Given, The production function, Q = -2.4+ 20 L - 0.5L2+30K - 1.00K2+15F- 0.3F2 The total cost…

Q: TC = 4,500 + 5Q2 MC = 10Q What is the average total cost equation? a. b. C. d. ATC= 4500Q + 5 ATC=…

A: