Search
demanded, P is price per unit. M is income, and PR the price of a related good. The estimated the
valueS of M and PR will be Rs 3200 and Rs 4, respectively.
The firm's estimated average variable coSt function IS; AVC = 500 - 0.03Q + 0.000001Q2
a. Find the profit maximizing level of output of the firm and the price to charge.
b. Should the manager continue production or shut down? Explain your answer.
c. Find the level of output at which the average variable cost is at its minimum.
When a perfectly competitive industry is in a long-run equilibrium, all the firm in the industry will
Given the following functions;
TC= 50Q+20Q2(Cost Function)
P= 400-20Q (Demand function)
Determine the profit maximizing level of price and output.
A. Determine budget equation?
B.draw budget line?
Given a short run cost function as T C =1 /Q 3 (3 is under subscript ) - 2Q 2(2 is under subscript ) +60Q+100 , find the minimum value of AVC and MC
A firm has analyzed its operating conditions, prices, and cost have developed the following functions: R = 400 – 4q2 (per thousand naira) and Cost = q2 + 10q + 30 (per thousand naira) where q is the number of units produced and sold. If the firm wishes to maximize profit:
(a) What quantity should be sold and at what price?
(b) What will be the amount of profit?
2. Find the point of maximum value of the revenue function given as P = 400 – 4q. Hence, find the revenue.
1. A firm has analyzed its operating conditions, prices, and cost have developed the following functions: R = 400 – 4q2 (per thousand naira) and Cost = q2 + 10q + 30 (per thousand naira) where q is the number of units produced and sold. If the firm wishes to maximize profit:
(a) What quantity should be sold and at what price?
(b) What will be the amount of profit?
2. Find the point of maximum value of the revenue function given as P = 400 – 4q. Hence, find the revenue.
#339914 on Dec 2023