Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 13, 2024

4. If the cost function of Example 4 is changed to C = 20 + 15Q+ Q (a ) Find the new marginal-cost function. (b)

4. If the cost function of Example 4 is changed to C = 20 + 15Q+ Q (a ) Find the new marginal-cost function. (b) Find the new equilibrium quantities. (Use fractions.) (c) Find the new equilibrium prices. (d ) Verify that the second-order sufficient condition is met

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Lets solve the problem stepbystep Problem 4 Cost Function Change The new cost function is given by C 20 15Q Q2 a Find the new marginalcost function Th... blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

Step: 3

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

Contemporary Business Mathematics with Canadian Applications

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

10th edition

133052311, 978-0133052312

Students also viewed these Economics questions

Question

★★★★★

An ac voltage is applied to a 25-0- resistor so that it dissipates 500 W of power. Find the resistors (a) rms and peak currents and (b) rms and peak voltages.

Answered: 1 week ago

Question

★★★★★

If a superclass declares a variable to be private, can you access it directly from a subclass?

Answered: 1 week ago

Question

★★★★★

Outline the four functions and two attitudes in Jungs psychology.

Answered: 1 week ago

Question

★★★★★

Adair Corporation produces products that it sells for $12 each. Variable costs per unit are $5, and annual fixed costs are $140,000. Adair desires to earn a profit of $21,000. Required a. Use the...

Answered: 1 week ago

Question

★★★★★

On October 1, 2019, Erlich Company purchased a machine for $2600,000. At the time of purchase, Erlich estimated the machine to have a 12-year useful life and a $20,000 salvage value. On January 1,...

Answered: 1 week ago

Question

★★★★★

Joseph contributed $ 2 2 , 0 0 0 in cash and equipment with a tax basis of $ 5 , 0 0 0 and a fair market value of $ 1 1 , 0 0 0 to Berry Hill Partnership in exchange for a partnership interest. a ....

Answered: 1 week ago

Question

★★★★★

MGT/726: Emerging Managerial Practices WK 5 - Summative Assessment: Transitioning to a Virtual Environment [due Mon] Exam Content Details & Information Imagine that you have been asked ta make a...

Answered: 1 week ago

Question

★★★★★

Reliability is a probability. Explain the numerical value used to determine the reliability that a manufactured good, piece of equipment, or system performs as intend. How does it work?

Answered: 1 week ago

Question

★★★★★

Help Save & Exit Submit Check my work E7-7 (Algo) Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] Oahu Kiki tracks the number...

Answered: 1 week ago

Question

★★★★★

1.2.8 A manufacturer can automate a certain process by replacing 20 employees with a machine. The employees each earn 24,000 per year, with payments on the last day of each month, with no sala- ry...

Answered: 1 week ago

Question

★★★★★

how can you obtain the following competencies through RTM (Hospitality, tourism, recreation management)work experiences and courses? Please explain each of them. 1) Community Knowledge 2)...

Answered: 1 week ago

Question

★★★★★

Question 1 (25 Points). Supply and Demand: A. Use supply and demand diagrams to show how the equilibrium price and quantity of smartphones is affected by the following changes in market conditions. a...

Answered: 1 week ago

Previous Question Next Question