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

Question

1 Approved Answer

A firm has total cost of production equal to TC = 400 + 192q -24q 2 + q 3 and marginal cost of MC =

A firm has total cost of production equal to

TC = 400 + 192q -24q2+ q3

and marginal cost of

MC = 192 - 48q + 3q2

where "q" is the number of units per month. Calculate theoutputlevel that minimizesaveragevariablecost.

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_2

Step: 3

blur-text-image_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

Legal Fundamentals for Canadian Business

Legal Fundamentals for Canadian Business

Authors: Richard A. Yates

4th edition

133370283, 978-0133370287

More Books

Students also viewed these Economics questions

Question

★★★★★
Use the Target Corporation's Form 10-K to answer the following questions related to Target's 2015 fiscal year (year ended January 30, 2016). Target's Form 10-K is available on the company's website...

Answered: 1 week ago

Question

★★★★★
Describe the personalization model of intergroup contact. How does personalization differ from decategorization? What are the shortcomings of the model?

Answered: 1 week ago

Question

★★★★★
6.55 Calculate the area under the standard normal curve between these values: a. z=-2.0 and z=2.00 b. z=-2.3 and z=-1.5

Answered: 1 week ago

Question

★★★★★
RZNY, LP., is a calendar-year, cash-basis limited partnership. Marc Liu, an individual, owns a 55% interest in RZNY as a general partner. During Year 1, RZNY had the following results: 1. Sales -...

Answered: 1 week ago

Question

★★★★★
8. A company has total assets of $350,000 and total liabilities of $200,000. Its debt-to-equity ratio is 0.6. true or false 10. Paid and declared preferred dividends are called dividends in arrears....

Answered: 1 week ago

Question

★★★★★
1. Which of the following is NOT true for a conventional fixed rate mortgage? It is fully amortizing. By half way through the term of the loan, the principal portion of the monthly payment is greater...

Answered: 1 week ago

Question

★★★★★
During July, the following are given: Standard unit price 12.50 Standard Quantity Allowed for actual production 6,300 units Actual unit purchase price Quantity purchased and used for production...

Answered: 1 week ago

Question

★★★★★
An RFP is used for what type of procurement? Give an advantage and a disadvantage of the RFP process

Answered: 1 week ago

Question

★★★★★
You are the area manager of several starbucks and you make all of the decisions regarding land, building, and equipment. Additionally you are responsible for all of the profits of the starbucks in...

Answered: 1 week ago

Question

★★★★★
Question 26 2 Points Dalal faces a reoccurring situation every month, introducing a new product. Accordingly, she created a complex integration mechanism, a permanent committee responsible for...

Answered: 1 week ago

Question

★★★★★
An electronics company headquartered in India, manufacturer & supplier of semiconductor chips to automobile companies across Europe, US and Asia- the Pacific. Looking at the product market demand...

Answered: 1 week ago

Question

★★★★★
My Home X CengageNOWv2 | Onli x Excel Online Student V X SNHU X Online Banking | Citizenx * Course Hero X + X C @ about:blank Update : Excel template - Saved v Search (Alt + Q) File Home Insert Draw...

Answered: 1 week ago

Question

★★★★★
6. Bring to mind a situation where you had a strong sense of satisfaction with what you did. Immerse yourself in the situation. i. How do you feel? ii. What do you hear? iii. What do you see?

Answered: 1 week ago

Question

★★★★★
3. Imagine a real event that brought joy to your past. What images, sounds, emo-tions, smells and tastes appear? Try to imagine a movie clip of this incident, as it could unfold if the circumstances...

Answered: 1 week ago

Question

★★★★★
7. Imagine yourself in a future situation that you know you do not thrive in. Try to bring with you that feeling of satisfaction from task 6 in the future uncomfortable situation. a. Highlight three...

Answered: 1 week ago

Previous Question Next Question