Question
Gerardo's Geraniums is a flower farm, specializing in the production of cut geraniums. The cut geranium market is a perfectly competitive market. Gerardo has
Gerardo's Geraniums is a flower farm, specializing in the production of cut geraniums. The cut geranium market is a perfectly competitive market. Gerardo has hired an economist to determine his total cost function, which the economist reports as: TC(q)=50,000+ 0.0025g where q is the number of cut flowers Gerardo's Geraniums produces. Gerardo's Geraniums' marginal cost of supplying an additional cut geranium is (Carefully enter your response as an algebraic expression, using the proper notation in the proper format.) Suppose that the price of a cut geranium is $2.00. Gerardo's Geraniums will supply cut geraniums. Suppose that the price of a cut geranium rises to $4.00. Gerardo's Geraniums will now supply cut geraniums.
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Operations Management Creating Value Along the Supply Chain
Authors: Roberta S. Russell, Bernard W. Taylor
7th Edition
9781118139523, 0470525908, 1118139526, 978-0470525906
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