Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 01, 2024

(1 point) The average cost per item to produce q items is given by a(q) = 0.04q2 1.2q + 19, for q>0. At what production

image text in transcribed

(1 point) The average cost per item to produce q items is given by a(q) = 0.04q2 1.2q + 19, for q>0. At what production level is the average cost a minimum? 9 = What is the lowest average cost? minimum average cost = Compute the marginal cost at q = 15. MC(15) = How does this relate to your previous answer? Explain this relationship both analytically and in words

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

Step: 3

blur-text-image

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

Public Finance

Public Finance

Authors: Harvey S Rosen, Ted Gayer

9th International Edition

0071267883, 9780071267885

More Books

Students also viewed these Finance questions

Question

★★★★★

Using the Maxwell relations and the ideal-gas equation of state, determine a relation for (s/v)T for an ideal gas.

Answered: 1 week ago

Question

★★★★★

The rigid bar ABC is supported by a pin at A and a steel rod at B. Determine the largest vertical load P that can be applied at C if the stress in the steel rod is limited to 35 ksi and the vertical...

Answered: 1 week ago

Question

★★★★★

Suppose that the number of typographical errors in a new text is Poisson distributed with mean . Two proofreaders independently read the text. Suppose that each error is independently found by...

Answered: 1 week ago

Question

★★★★★

Design a generic post-implementation evaluation form. The form should consist of questions that you could use to evaluate any information system. The form should evaluate the training received and...

Answered: 1 week ago

Question

★★★★★

What is the Ending Retained Earnings balance? What is the total Liabilities balance? What is the total Common Stock balance? Instructions Use the following TRANSACTIONS AND ADDITIONAL INFORMATION to...

Answered: 1 week ago

Question

★★★★★

Tesla CEO Elon Musk has employed you as a consultant to assess the company's overall situation as of mid-2020 and recommend a set of actions to improve the company's future prospects. (1) Critique...

Answered: 1 week ago

Question

★★★★★

Construct the indicated confidence interval for the difference between the two population means. Assume that the two samples are independent simple random samples selected from normally distributed...

Answered: 1 week ago

Question

★★★★★

On January 1 , 2 0 1 8 , Princess Corporation leased equipment to King Company. The lease term is ten years. The first payment of $ 8 0 0 , 0 0 0 was made on January 1 , 2 0 1 8 . The equipment cost...

Answered: 1 week ago

Question

★★★★★

Lucia has a bank account at First Street Bank. She received Form 1099-INT, Interest Income, shown below. She has no other interest or dividends to report. How should this income be reported on...

Answered: 1 week ago

Question

★★★★★

Use Exhibit 1. Which of the following statements is (are) correct? Exhibit 1 Production Possibilities Trucks Cars 1,000 0 800 1,600 500 2,700 0 3,500 x The opportunity cost of the first 500 trucks is...

Answered: 1 week ago

Question

★★★★★

An owner of a growing medical practice is interested in hiring a physician employee to help with the workload. What representations and warranties should be included in the physician's employment...

Answered: 1 week ago

Question

★★★★★

20.Rene and Sebastian, who are bitter enemies, engaged in a gunfight. In the ensuing battle, Rene killed Sebastian with a shot to the head. In the criminal case for Murder filed against Rene, the...

Answered: 1 week ago

Question

★★★★★

The work role: This consists of service to others at your workplace.

Answered: 1 week ago

Question

★★★★★

The role of society: This consists of service to the local community, society and nature.

Answered: 1 week ago

Question

★★★★★

13. Think about a relationship conflict you have had in your workplace or home situation. Try to interpret the conflict from the following logical levels: a. Purpose b. Role c. Values d. Competence...

Answered: 1 week ago

Previous Question Next Question