For the given cost function, find TFC and MC, TC = 10,000 +10Q 1. TFC = $10,000 & MC = $10 2. TFC = $10 & MC = $(10,000/Q) + $10 3. TFC = $10,000 & MC = $10,000 4. TFC = $10 & MC = $10
For the given cost function, find TFC and MC, TC = 10,000 +10Q 1. TFC =...
For the given cost function, find TFC and MC, TC = 10,000 +10Q 1. TFC = $10,000 & MC = $10 2. TFC = $10 & MC = $(10,000/Q) + $10 3. TFC = $10,000 & MC = $10,000 4. TFC = $10 & MC = $10 Pls explain how to get TFC & MC thanks!
Suppose that a firm has a short run, total cost function given by: TC= 1089 +10q +9q2. 1. Determine the profit-maximizing quantity of production when price is $244. _____________________________________ q= 13 2. Calculate the price at which this firm breaks even (i.e. profit = $0). _____________________________________ $208 3. Calculate the price at which this firm shuts down in the short run. _____________________________________ $10 The answers are given but can you show how to get them step by step.
2. Given ATC = $300, TFC = $2000, and TC = $6000, find AVC. (1.5 points) Show all work. (ATC=average total cost, TFC = total fixed cost, TC-total cost, AVC-average variable cost, Q=quantity, TVC-total variable cost)
Complete the following table Q TFC TVC TC AFC AVC ATC MC 0 800 ------ ----- ----- ----- 1 40 2 35 3 296 4 14 5 918
Q TFC TVC TC AFC AC MC 0 1 200 2 40 3 150 4 100 5 400 550 Please elaborate as to how you got the answer for all of these
3. Given the data below, compute TR, TC, TFC, TVC, ATC, AVC, AFC, MR, MC, AR, and Profit 1 2 3 6 7 8 9 10 11 0 TC = 10 +570 - 80+ TR = 452 - 0 50. Find the profit maximizing level of output and graph all the curves. Note: for both problems. Graph all the total curves together on one graph Graph all the average and marginal curves together on one graph Graph the profit curve...
AFC*Q AVC*Q (TFC+TVC) dTC/dQ Q AFC TFC AVC TVC TC MC 1 50 50 100 100 150 2 25 50 80 160 210 60 3 16.67 50 66.67 200.01 250 40.02 4 12.5 50 65 260 310 59.98 5 10 50 68 340 390 80 6 8.37 50 73.33 439.98 490 100.2 7 7.14 50 80 560 610 119.78 8 6.25 50 87.5 700 750 140.02 Does the data in this question follow the law of diminishing returns? Why or why...
Consider a competitive firm with total costs given by TC(q) = 100 + 10q + q 2 The firm faces a market price p = 50. (d) Find the profit-maximizing level of output q^*. At this level of output, what are TR, TC, ATC, and π? (e) Graph the ATC, AVC, MC, and MR curves in a single graph, and indicate the profit-maximizing level of output. If there are profits, shade the region corresponding to profit and label it.
Consider a competitive firm with total costs given by TC(q) = 100 + 10q + q 2 The firm faces a market price p = 50. (a) Write expressions for total revenue TR and marginal revenue MR as functions of output q. (b) Write expressions for average total cost ATC, average variable cost AVC, and marginal cost MC as functions of output q. (c) For what value of output is ATC minimized?
Consider a firm that has cost function of: TC = 24 + 10Q + 1.5 Q^2 a) Draw the average cost and marginal cost curves for this firm (label with equation). b) Draw the supply curve of this firm c) What are the profits of the firm if the price of output is $44?