Give the formulas for and plot average fixed​ cost, AFC, marginal​ cost, MC, average variable​ cost, AVC, and average​ cost, AC, if the cost function​ is: C=6+9q−4q2+q3. Marginal cost​ is: MC​ = ?????enter your response here Average fixed cost​ is: AFC​ = ????enter your response here Average variable​ cost: AVC​ =???? enter your response here

Q: machines (K). The quantity of products produced in a month is given by the function Q = 3KL. Each…

A: Q = 3KL Fixed Cost = 15,000 Variable Cost = 5000

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Q: d. For this part, suppose that Ouroboros has two corporate customers. The first corporations' demand…

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Q: Skylar owns a firm that produces holiday ornaments. Her production function is given by: f (L, K)…

A: Given- y = (min{x1, 2x2})^1/2 let, We increase X1, X₂ by some constant 'C' y' = ( min { CX₁ + 2 CX ₂…

Q: What is the value of the average total cost when Q=2? Enter your answer as a number below. Do not…

A: Given Total cost at output of 2 = 80 ATC = Total cost / output

Q: 2,000 1,000 2 10 15

A: Average cost(AC) is minimized when q=10. At q=2, TC curve is increasing at increasing rate. At this…

Q: Given the following costs functions C1=5q C2=5q+5 C3=5q-5 1. Calculate the marginal costs functions.

A: Marginal cost is the change in the total cost of a firm that arises when the firm produces one more…

Q: 0.7 A firm has the following information on production and costs from past data: Output (Y) Total…

A: * Solution :- (7)    From the given information the answer is given as follows

Q: a) Does the product function provide constant, increasing, or decreasing scale benefits? b) Kjell…

A: x = 100N0.8K0.2 When both inputs are doubled, new production function is x* = 100 x (2N)0.8(2K)0.2 =…

Q: Give the formulas for and plot average fixed cost, AFC, marginal cost, MC, average variable cost,…

A: Given  Cost function: C=3+q2               .....(1) Fixed cost: The cost of production which remains…

Q: The only variable input a janitorial service firm uses to clean offices is workers who are paid a…

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Q: In the short run with fixed amount of at least one input, the law of diminishing returns must apply,…

A: When the one input is fixed then the firm experience diminishing returns because adding one more…

Q: A firm has a production function of Q(K,L) = K04L0.6 a) Explain the concept of returns to scale.…

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Q: Given the total cost function TC = 0.5q³ - 10q² + 80q • Find the average cost AC and the marginal…

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Q: Which of the following is an example of an implicit cost? Group of answer choices A)Federal taxes…

A: Implicit cost is such a cost that shows factor cost owned by entrepreneur himself and also known as…

Q: State the relationship between average variable cost (AVC), and marginal cost (MC) when AVC is…

A: 1. AVC (Average variable cost) is decreasing, when the MC (Marginal cost) is less than AVC (Average…

Q: Let AC(q) and MC(q) be the average cost function and the marginal cost function respectively. (a)…

A: We know  AC(q)=TC(q)qand MC(q)=dTC(q)dq

Q: When ONLY total costs (TC) are known, such as shown in Table 1 below, explain how to calculate each…

A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…

Q: The total cost of producing 3 products is given by:   TC=2A+3B+4C+2ABC   1. Is the total cost…

A: The total cost (TC) function is a mathematical depiction of the total cost incurred by a firm to…

Q: Consider the total cost function given by TC(Q) = 5Q³ — 10Q² + 16Q • Solve for the level of Q that…

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Q: For the total cost function TC (a) = - 30q² + 800q, find the minimum marginal and average cost. Show…

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Q: A computer company produces hardware and software using the same plant and labor. The total cost of…

A: Economies of scope occur when producing multiple products together reduces the total cost, as shared…

Q: Please see the attached two pictures, one for the graph, and the other for the questions.

A: In the third part of this question, which was uploaded in the previous link, there is a correction.…

Q: Consider three firms that produce two products with quantities denoted 91 and 92. The three distinct…

A: Here we have to calculate the Total Cost (TC), Average Cost (AC), Marginal Cost (MC), and…

Q: What is a sunk cost? Provide an example of a sunk cost other than one from this book. Why are such…

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Q: You produce widgets. Currently you produce four widgets at a total cost of $40. What is your average…

A: The average cost is the total cost divided by the quantity of output whereas the marginal cost is…

Q: You manage a store that mass-produces candies by teams of workers using assembly candy machines. The…

A: Q = 3KL  Where , Q = quantity produced of candies in thousands  K = Capital /Machine  L = Labor…

Q: Suppose the production function is q = 18L0.55K0.75. Determine the long-run capital-to-labor ratio…

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A: The Marginal Product of Labor (MPL) represents the change in output resulting from employing an…

Q: COS

A: The additional cost occur due to an extra output production depicts marginal cost (MC). The overall…

Q: Suppose a pizza parlor has the following production costs: $3.00 in labor per pizza, $4.00 in…

A: Variable cost is the cost that varies with the change in production level. So, the variable cost…

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Q: Which of the following statements is a reflection of the fact that the average fixed cost falls as…

A: Total cost (TC) is the sum of fixed cost (FC) and variable cost (VC). i.e., TC = FC + VC…

Q: “Sunk cost is a fixed cost, but not in the long term.” Is this statement true or false? Explain!

A: In an economy, the cost is classified in different forms according to its effect on organizational…

Q: Total Marginal Cost (using total cost) Quantity Variable Marginal Cost Cost Cost (using variable…

A: Fixed cost of production is that portion or part of firm's costs which remains same at each level of…

Q: The total cost function is : C= 2x3+4x2+2 Find the marginal cost of C?

A: Given: C= 2x3+4x2+2 Where, x is the number of units that has been produced.

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