Problem 2.5 The cost function for Acme Laundry is TC(q) = 10 + 10q + q^2  so its marginal cost function is MC(q) = 10 + 2q where q is tons of laundry cleaned.  Derive the firm's average cost and average variable cost curves.  What q should the firm choose so as to maximize its profit if the market price is p?  How much does it produce if the competitive market price is p = 50

7. Assume that the marginal cost curve is given by mc(q) = 100 + 2q. (a) If the price is $160, what is the optimal production for the firm? What if the price is $120? (ignore the shut-down decision for this part) (b) Assuming that the market is cleared at $160 (no shortage/surplus). If the market demand is equal to 10,000 units of the product. How many firms are currently operating (n) in the market? (Hint: if the market clears qª = n x q°) (c) If the total cost curve is TC 256 + 100g + q², what's the average total cost curve? %3| what's the break-even price? (d) If the demand curve is given by qd = 8, 452 – p, what's the long-run equilibrium price, the equilibrium quantity and the long-run total number of firms (n) in the industry?

For the pizza seller whose marginal, average variable, and average total cost curves are shown in the graph below, what is the profit-maximizing level of output and how much profit will this producer earn if the price of pizza is $1.50 per slice?Instructions: In the graph below, label all three curves by clicking on the dropdown to select the appropriate label.       Instructions: Enter your response as a whole number. If you are entering a negative number, be sure to include a negative sign (−).   When the price is $1.50 per slice, the profit-maximizing level of output is slices per day.   Instructions: Enter your response rounded to the nearest penny (two decimal places).   At the profit-maximizing level of output, the producer's profit is: $ per day.

In the long run, you are given the following: The total revenue curve is TR= -4Q^2 + 28Q +235. The average variable cost curve is AVC = 4Q-36+(100/Q). At what level of output should the firm operate in order to maximize profits?

Problem 2.5    The cost function for Acme Laundry is  TC(q) = 10 + 10q + q^2 so its marginalprod cost function is  MC(q) = 10 + 2q where q is tons of laundry cleaned.  Derive the firm's average cost and average variable cost curves.  What q should the firm choose so as to maximize its profit if the market price is p?  How much does it produce if the competitive market price is p = 50?

Consider the following cost function: Total Cost = 50+5Q^3 and demand curve Price= 5000-275*Q Given these functions, what would be the profit maximizing output?

A firm's short-run production function is q=3L0.2 , while its cost function is C = 2L. Furthermore, the firm can sell its output in a perfectly competitive market at p = 40. 6.1 Find the value of the firm’s profit when L = 50 . 6.2 Calculate the level of  L that satisfies the first-order condition for profit maximization. 6.3 Calculate the value of the second order derivative (SOD) that ensures profit is being         maximised at the value of L found in 6.2 .

Consider a firm with the following cost function:   C (q) = 4q^2 + 100   Find the long-run supply and the short-run supply of the firm, under the assumptions that the total cost function is the same in the long and in the short run, but the xed cost is sunk in the short run.

A firm is producing a positive amount of output Q in the short run. At this output level, which of the following is true? I. P>SRMC. II. P>ANSC. II. SRMC is downward sloping. I only Il only I and II only I and III only Il and III only

show work please