Suppose a product can be produced using virgin ore at a marginal cost of MC=1.750, and with recycled materials at a P=40-3.25(Q,+Q₂). Under marginal cost given by MC=14+0.50. Suppose the inverse demand curve was given by efficiency, how many units of the product would be produced with virgin ore and how many units with recycled materials? Fanal AIT.PADING LIT-PAL. PAR.

Suppose a product can be produced using virgin ore at a marginal cost of MC=1.750, and with recycled materials at a P=40-3.25(Q,+Q₂). Under marginal cost given by MC=14+0.50. Suppose the inverse demand curve was given by efficiency, how many units of the product would be produced with virgin ore and how many units with recycled materials? Fanal AIT.PADING LIT-PAL. PAR.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

a- The Western U.S. saw record heat waves in August, 2021. Electricity is heavily used in air conditioning leading to very high demand for electricity then. Would you expect the marginal costs of generating electricity to be similar to in May, 2021, lower orhigher? Why? b- Suppose California could add 1000 MWh of wind generation—which produces for four hours during the nighttime when temperatures are relatively low—or 1000 MWh of solar generation—which produces for four hours in the daytime when temperatures are relatively high. Which one would you have expected to lower total costs of electricity generation more in the summer? Why? Please explain by sketching the daytime and nighttime marginal cost curve for electricity and showing the size of the cost reductions.
5. Rusty Trawler imports oil from Saudi Arabia. His cost function (for purchasing and delivering the oil) is TC = 5000+.1Q² where Q is the number of barrels of oil delivered. He may sell all the oil he can deliver for $60 per barrel (so TR = 60Q). Given these conditions, what are Rusty's maximum possible profits? a) $0 b) $300 c) $2,500 d) $4,000
Part I Given that the marginal cost (mc) to manufacture an Iphone per day is represented by the funtion:- MC= (1/3)q^3 - 100q^2 + 10000q a. What quantity of Iphones will be produced at minimum marginal cost? b. Given that the fixed cost of manufacturing an Iphone is $2000.00. What is the quantity of Iphones that will be manufactured at minimum variable cost? Part II The table below gives the values for the marginal product and average product for producing several levels of output: Quantity Marginal Product Average Product Marginal Cost Average Cost 2 20 25 50 40 4 10 10 6 40 100 With reference to the table above answer the following questions: a. What is value for the price of output? b. Compute the values for the marginal cost. c. Compute the values for average cost. d. Sketch the marginal cost and average cost function for the given quantity. Part III Indicate and explain the relationships among the average cost, the average variable cost and the average fixed…
Please Show Each and Every Working VERY CLEARLY. There are NO multi-questions here, only just multi-PART questions which are CONNECTED to each other, and hence, Please do NOT Leave any, Thank You! marginal cost
1/3 1/3 Assume y = f(x1, x2) = x1 x2 . If the input prices are w₁ and w₂ what is profit maximizing y level of output? What is the profit?
What is the marginal cost forumla for TC= 10+5Q?
Please answer fast
Given that the variable cost is $25 per customer, with a fixed cost of $200, he needs to fnd which price maximizes, therefore my question is how do I find what amount he earns if profit is maximized.
Q44. Suppose that cellphone batteries can be produce using 3 different types of technologies. The table below indicates the total cost related to each technology for the amount of output produced per day. a. Samsung is considering which technology to adopt to produce its cellphone batteries. Use the information to find the average-total-cost of each technology and identify the most efficient choice of technology and plant size if Samsung would like to produce 6 batteries. b. In general, where must the marginal cost curve intersect the average total cost curve?
what is efficient scale in economics
The marginal cost for a company to produce q items is given by MC(q)=0.004q2−0.6q+620. The company's fixed costs are $8500. Find the marginal cost at a production level of 400 items. The marginal cost at a production level of 400 items is ??? per item.
suppose noW that the firm must pay a fixed cost of ē > 0 in order to produce (e.g., this could be the cost of buying a manufacturing plant). If the firm chooses not to produce at all, it does not incur the fixed cost. If it chooses to produce any strictly positive quantity, it must incur the full fixed cost of č. Suppose p = w = r = 4. When will the firm choose to produce a strictly positive amount of the good Y? Write down the firm's supply and profit functions.