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    "question_id": "2621359",
    "url": "\/study-help\/questions\/hello-marginal-analysis-part-1a-1-global-corp-sells-its-2621359",
    "question_creation_date_js": "2024-06-11T05:25:52-04:00",
    "question_creation_date": "Jun 11, 2024 05:25 AM",
    "meta_title": "[Solved] Hello Marginal Analysis part 1A: 1. Globa | SolutionInn",
    "meta_description": "Answer of - Hello Marginal Analysis part 1A: 1. Global Corp. sells its output at the market price of $7 per unit. Each plant has t | SolutionInn",
    "meta_keywords": "hello,marginal,analysis,part,1a,1,global,corp,sells,output,market,price",
    "question_title_h1": "Hello Marginal Analysis part 1A: 1. Global Corp. sells its output at the market price of $7 per unit. Each plant has the costs shown",
    "question_title": "Hello Marginal Analysis part 1A: 1. Global Corp. sells its output at",
    "question_title_for_js_snippet": "Hello Marginal Analysis part 1A  1  Global Corp  sells its output at the market price of $7 per unit  Each plant has the costs shown below  Units of Output Total Cost ($) 0 5 1 8 2 14 3 23 4 35 5 50 How much output should each plant produce  Please specify your answer as an integer  2  Suppose that you can sell as much of a product (in integer units) as you like at $62 per unit  Your marginal cost (MC) for producing the qth unit is given by  MC 6q This means that each unit costs more to produce than the previous one (e g , the first unit costs 6 1, the second unit (by itself) costs 6 2, etc )  If fixed costs are $70, what is the profit at the optimal output level  Please specify your answer as an integer  3  Assume that a competitive firm has the total cost function  TC   1q 3   40q 2   740q   1600 Suppose the price of the firm's output (sold in integer units) is $650 per unit  Using tables (but not calculus) to find a solution, how many units should the firm produce to maximize profit  Please specify your answer as an integer  Marginal Analysis Part 1B  1  Global Corp  sells its output at the market price of $13 per unit  Each plant has the costs shown below  Units of Output Total Cost ($) 0 8 1 11 2 17 3 26 4 38 5 53 6 71 7 92 What is the profit at each plant when operating at its optimal output level  Please specify your answer as an integer  2  Suppose that you can sell as much of a product (in integer units) as you like at $68 per unit  Your marginal cost (MC) for producing the qth unit is given by  MC 10q This means that each unit costs more to produce than the previous one (e g , the first unit costs 10 1, the second unit (by itself) costs 10 2, etc )  If fixed costs are $60, what is the optimal output level  Please specify your answer as an integer  3  Assume that a competitive firm has the total cost function  TC   1q 3   40q 2   810q   1500 Suppose the price of the firm's output (sold in integer units) is $700 per unit  Using tables (but not calculus) to find a solution, what is the total profit at the optimal output level  Please specify your answer as an integer ",
    "question_description": "<p>Hello<\/p> <p>Marginal Analysis part 1A:<\/p> <p>1. <\/p> <p>Global Corp. sells its output at the market price of $7 per unit. Each plant has the costs shown below:<\/p> <p> <\/p> <table><tbody> <tr> <td>Units of Output<\/td> <td>Total Cost ($)<\/td> <\/tr> <tr> <td>0<\/td> <td>5<\/td> <\/tr> <tr> <td>1<\/td> <td>8<\/td> <\/tr> <tr> <td>2<\/td> <td>14<\/td> <\/tr> <tr> <td>3<\/td> <td>23<\/td> <\/tr> <tr> <td>4<\/td> <td>35<\/td> <\/tr> <tr> <td>5<\/td> <td>50<\/td> <\/tr> <\/tbody><\/table> <p>How much output should each plant produce? Please specify your answer as an integer.<\/p> <p>2. <\/p> <p>Suppose that you can sell as much of a product (in integer units) as you like at $62 per unit. Your marginal cost (MC) for producing the qth unit is given by: MC=6q This means that each unit costs more to produce than the previous one (e.g., the first unit costs 6*1, the second unit (by itself) costs 6*2, etc.). If fixed costs are $70, what is the profit at the optimal output level? Please specify your answer as an integer.<\/p> <p> <\/p> <p>3. <\/p> <p>Assume that a competitive firm has the total cost function: TC = 1q<sup>3<\/sup> - 40q<sup>2<\/sup> + 740q + 1600 Suppose the price of the firm's output (sold in integer units) is $650 per unit. Using tables (but not calculus) to find a solution, how many units should the firm produce to maximize profit? Please specify your answer as an integer.<\/p> <p> <\/p> <p>Marginal Analysis Part 1B: <\/p> <p>1. <\/p> <p>Global Corp. sells its output at the market price of $13 per unit. Each plant has the costs shown below:<\/p> <p> <\/p> <table><tbody> <tr> <td>Units of Output<\/td> <td>Total Cost ($)<\/td> <\/tr> <tr> <td>0<\/td> <td>8<\/td> <\/tr> <tr> <td>1<\/td> <td>11<\/td> <\/tr> <tr> <td>2<\/td> <td>17<\/td> <\/tr> <tr> <td>3<\/td> <td>26<\/td> <\/tr> <tr> <td>4<\/td> <td>38<\/td> <\/tr> <tr> <td>5<\/td> <td>53<\/td> <\/tr> <tr> <td>6<\/td> <td>71<\/td> <\/tr> <tr> <td>7<\/td> <td>92<\/td> <\/tr> <\/tbody><\/table> <p>What is the profit at each plant when operating at its optimal output level? Please specify your answer as an integer.<\/p> <p> <\/p> <p>2. <\/p> <p>Suppose that you can sell as much of a product (in integer units) as you like at $68 per unit. Your marginal cost (MC) for producing the qth unit is given by: MC=10q This means that each unit costs more to produce than the previous one (e.g., the first unit costs 10*1, the second unit (by itself) costs 10*2, etc.). If fixed costs are $60, what is the optimal output level? Please specify your answer as an integer.<\/p> <p>3. <\/p> <p>Assume that a competitive firm has the total cost function: TC = 1q<sup>3<\/sup> - 40q<sup>2<\/sup> + 810q + 1500 Suppose the price of the firm's output (sold in integer units) is $700 per unit. Using tables (but not calculus) to find a solution, what is the total profit at the optimal output level? Please specify your answer as an integer.<\/p> <p> <\/p> <p> <\/p> <p> <\/p> <p> <\/p> <p> <\/p> <p> <\/p> <p> <\/p> <p> <\/p>",
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        "isbn": "321500245, 321500243, 978-0321500243",
        "edition": "11th Edition",
        "authors": "Mario F. Triola",
        "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1545.jpg",
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    "question_posted": "2024-06-11 05:25:52",
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