FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(2) [10 points] A firm has long-run cost function C(q) = 16 q + q2. (a) Find the supply curve of the firm. To draw

image text in transcribed
image text in transcribed
(2) [10 points] A firm has long-run cost function C(q) = 16 q + q2. (a) Find the supply curve of the firm. To draw a precise graph of the supply curve, compute the MC(q) for q = 1, 4, 9, 16. (b) What is the profit of the firm if p = 107 What is the profit of the firm if p = 62/3

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

Forecasting for Economics and Business

Forecasting for Economics and Business

Authors: Gloria Gonzalez Rivera

1st edition

131474936, 978-1315510415, 1315510413, 978-0131474932

More Books

Students also viewed these Economics questions

Question

★★★★★
Dog Years. A dog's life span is typically much shorter than that of a human. Age equivalents for dogs and humans are listed in the table below. Age of Dog, x (in years) Human Age, h(x) (in years)...

Answered: 1 week ago

Question

★★★★★
Define the Internal Rate of Return (IRR) method in capital budgeting and state the IRR Decision rule.

Answered: 1 week ago

Question

★★★★★
Let X be a continuous random variable whose distribution function F is strictly increasing throughout . Show that the random variable Y = [X], the integer part of X, is a discrete variable with...

Answered: 1 week ago

Question

★★★★★
As a jewelry store manager, you want to offer credit, with interest on outstanding balances paid monthly. To carry receivables, you must borrow funds from your bank at a nominal 6%, monthly...

Answered: 1 week ago

Question

★★★★★
q, O e A A AL AaBb AaB! AaBb( AaBbCcDa AaBBCCDC 1 A JE - RE #t P1. Coyote Construction, Inc. provides paid vacations and paid sick leaves to its employees whose standard working hours are 8 hours a...

Answered: 1 week ago

Question

★★★★★
Mortgage Underwriting ll": [Jde O IIIUIIIIIS. DUI." WUIRW unuugrl grad school to cover their living expenses but their parents paid for education expenses so they have no student loans. Neither has...

Answered: 1 week ago

Question

★★★★★
The year is 2030, and the rate of change has continued to exponentially increase over the last few years. Select a current organization that you believe will still be successful in the year 2030. I...

Answered: 1 week ago

Question

★★★★★
a company that operates for 50 weeks in a year is concerned about its stocks of copper cable. This costs rs. 240 a meter and there is a demand for 8000 meters a week . Each replenishment costs rs....

Answered: 1 week ago

Question

★★★★★
25) A coffee shop operates 7 days per week and needs to determine how many workers (full-time equivalent, FTE) employees to staff. Employees work 12 hour shifts. A FTE is defined as an employee that...

Answered: 1 week ago

Question

★★★★★
Suppose we have a credit score distribution that follows a normal distribution with a mean of 705 and standard deviation of 39. A person is randomly selected. Compute the probability that this person...

Answered: 1 week ago

Question

★★★★★
83. A baseball team of ten young teenagers is visiting town for a tournament today. Two of the players have swollen parotid (salivary) glands with cough and fever. You are called to evaluate and...

Answered: 1 week ago

Question

★★★★★
Managers wanting to help individuals overcome difficulties in a team environment could offer workshops in: labour law. sexual harassment. power distance. negotiation

Answered: 1 week ago

Question

★★★★★
Engage everyone in the dialogue

Answered: 1 week ago

Question

★★★★★
1. Given your basic mental state, i.e. the state you often return to. Give this state a name that you recognize and that is easy to remember, such as irritability, frustration, joy, etc. Also give...

Answered: 1 week ago

Question

★★★★★
5. The next time a negative event occurs, or a negative memory occurs, think about how you need to perform to make this a success story.

Answered: 1 week ago

Previous Question Next Question