Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 23, 2024

A firm has the following total cost function: C = 50 + 24q - 12q2+ 3q3, which means it has MC = 24 - 24q

A firm has the following total cost function: C = 50 + 24q - 12q2+ 3q3, which means it has MC = 24 - 24q + 9q2. What is the minimum price necessary for the firm to stay open in the short run?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored 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

Essentials Of Mis

Authors: Kenneth Laudon

8th Edition

1292153776, 9781292153773

More Books

Students also viewed these Economics questions

Question

★★★★★

In general, what are healthy signs in the cash flow statement?

Answered: 1 week ago

Question

★★★★★

What are at least three examples of prohibited transactions?

Answered: 1 week ago

Question

★★★★★

Discuss perceived advantages and limitations of the scientist-practitioner (Boulder), practitioner-scholar (Vail), and clinical scientist models of training.

Answered: 1 week ago

Question

★★★★★

Tuscany Boatbuilders was recently awarded a $17,000,000 contract to construct a luxury liner for Queen Cruiseliners Inc. Tuscany estimates it will take 42 months to complete the contract. The company...

Answered: 1 week ago

Question

★★★★★

What are three applications of CRM ?

Answered: 1 week ago

Question

★★★★★

Suppose that there are two parties one is the employer and the other is a bidder. Determine the main requirements for the bidding process with reference to the Bahrain laws.

Answered: 1 week ago

Question

★★★★★

In order to show more reported gains or less reported losses on the income statement, "gains trading" can be accomplished by selling securities classified as ____ with gains or by transferring...

Answered: 1 week ago

Question

★★★★★

A worker in charge of assembling a bicycle finds a faster way to mount the pedals. He turns to his supervisor. The supervisor explains that the process had been optimized by the engineering...

Answered: 1 week ago

Question

★★★★★

Gamma Manufacturing has prepared the following flexible budget for October and it is in the process of interpreting the variances. F denotes a favorable variance and U denotes an unfavorable...

Answered: 1 week ago

Question

★★★★★

What is the role of the customer in service operations? A.) They facilitate collaboration between suppliers B.) They are responsible for majority of fixed costs. C.) They are a supplier of process...

Answered: 1 week ago

Question

★★★★★

A contract to purchase a year of business consulting has a base price of $25,000 but also includes a bonus of $5,000 if the company's performance metrics improve by 10%. Due to the extensive amount...

Answered: 1 week ago

Question

★★★★★

1. Despus de leer detenidamente y analizar el captulo 5 del libro Garca, J. (2014). Contabilidad de Costos. Mxico: Mc Graw Hill 2. Resuelve el ejercicio de costeo por rdenes de produccin, los...

Answered: 1 week ago

Question

★★★★★

1. Imagine a real situation in your workplace or home situation, where you have given another person feedback on something he has done. a. What was your intention? b. How was the feedback perceived?...

Answered: 1 week ago

Question

★★★★★

Behaviour: What am I doing?

Answered: 1 week ago

Question

★★★★★

5. Imagine a situation where you were really annoyed by someone elses behaviour. Try to find the positive intention behind the behaviour.

Answered: 1 week ago

Previous Question Next Question