Suppose a firm engaged in the illegal copying of DVD’s has a daily short run total cost function given by: STC = (q^2)+25 If pirated DVD’s sell for $20, how many will the firm copy each day? What will its profits be? What is the firm’s short run producer surplus at P=20? Develop a general expression for this firm’s producer surplus as a function of the price of pirated DVD’s.

The graph shows the Cost curves for a profit maximizing firm in a competitive market. If the market price is $30 and the firm produces at the profit maximum quantity, what is the amount of the total fix cost

Firm A and Firm B sell identical goods The total market demand is:Q(P) = 1,000-1.0P The inverse demand function is therefore: P(QM) = 10,000-10QM QM is total market production (i.e., combined production of firm’s A and B). That is: QM = QA + QB As a result, the inverse demand curve for each firm is: P(QA,QB) = 10,000-10QA-10QB The difference between this example and the example in class is that the two firms have different costs. Firm A has the same cost as in class, but firm B has a different cost function: TCA(QA) = 5000QA TCB(QB) = 5000QB Using the demand function and the cost functions above, what is firm A’s profit function? Using the profit function above and assuming that firm B produces QB, calculate what firm A’s best response is to firm B’s decision to produce QB. (Note: Firm A’s best response should be a function of QB)   Using the demand function and the cost functions above, what is firm B’s profit function? Using the profit function above and assuming that firm A…

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 competitive markets, there are many small firms with each firm unable to influence the market price. Suppose company ABX  operates in the wheat market. The company produces and markets wheats at a Price = $20 per container. The firm’s total costs are given as: TC = 50 +2Q + 3Q2   What is the firm Fixed Cost? Why? Also, use a graph to support your answer

Keep in mind that the formula for a firm's cost function is: TC = FC+ C(Q) TC → Total Costs: FC → Fixed Costs: C(Q) → Cost of production*Quantity produced → also known as Variable Costs Q3: Firms A and B are two firms supplying products in two separate differentiated goods markets. Equations (1) and (2) give the total cost functions of the two firms: - Firm A: TC = 2Q --- Equation (1) - Firm B: TC = 10 + 2Q --- Equation (2) Each firm has the ability to produce a maximum quantity of 80,000 units in ten batches of 8,000. The cost of production per unit for each firm is $2. Firm B has a fixed cost of $10. (a) Use the information given about firm A and appropriate diagrams/figures (hint:think isoprofit curves, demand curves) to explain how the equilibrium will change for firm A if it's cost of production falls by $1 Assume demand curves to be linear

On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 6, 12, 15, 18, 24, and 30 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results.   Calculate the total revenue if the firm produces 6 versus 5 units. Then, calculate the marginal revenue of the sixth unit produced. The marginal revenue of the sixth unit produced is________.   Calculate the total revenue if the firm produces 12 versus 11 units. Then, calculate the marginal revenue of the 12th unit produced. The marginal revenue of the 12th unit produced is_________.

2. A firm has a cost function of C = 1000+20Q + 1/10Q2 and has a demand function as shown in the graph below: 100 90 80 70 70 60 60 50 40 30 20 10 0 10 20 30 40 50 60 70 80 90 100 Quantity (Q) -P (demand) a) Estimate the firm's demand function. You may assume that the slope is a whole number, and the intercept is a multiple of 10. (1 mark) b) Find the firm's revenue function. You do not need to draw it. (2 marks) c) Find the marginal revenue function, and draw it on a copy of the graph. (3 marks) d) Find and draw the marginal cost function. (3 marks) e) Use your results from parts (c) and (d) to find the profit-maximising level of output. (3 marks) f) Find the market price at this level of output. (2 marks)

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I need help with this problem for business calculus. The revenue given is R(x)=275(0.974)^2x+1  I have to find the marginal revenue when 150 computers are sold and interpret the answer in a sentence. I know that I have to find the Marginal revenue function and I think it's -14.48918*0.974^2x+1 but I'm not 100% sure. I also need some clarification if I need to plug 150 into x to get the marginal revenue for 150 computers sold. Please help, thank you!