Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

19. For a firm with Revenue = 20Q-2Q2 and Cost = 8Q, If marginal costs is found to exceed marginal revenue, then: a) The

image text in transcribed

19. For a firm with Revenue = 20Q-2Q2 and Cost = 8Q, If marginal costs is found to exceed marginal revenue, then: a) The firm should increase its production level. b) The firm's average costs exceed average revenue. c) The firm should decrease its production level. d) The firm should shut down. 20. When Revenue = 20Q-2Q2 and Cost = 8Q, then the profit maximizing level output a) 3 is: b) 4.5. c) 8. d) 24.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Tools for Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

6th edition

1118096894, 978-1-11921511, 978-1118096895

More Books

Students also viewed these Accounting questions

Question

Explain the importance of staffing in business organisations

Answered: 1 week ago

Question

What are the types of forms of communication ?

Answered: 1 week ago

Question

Explain the process of MBO

Answered: 1 week ago

Question

Derive Eq. (18.33) from Eq. (18.32).

Answered: 1 week ago

Question

How do you feel in your new situation? How do you deal with it?

Answered: 1 week ago

Question

What are our roles, expectations, goals, and behaviour standards?

Answered: 1 week ago

Question

What do we need to operate as an effective virtual team?

Answered: 1 week ago