1 if the marginal cost of seating a theatergoer is 5 an the, Ask an Expert

Economics

1. if the marginal cost of seating a theatergoer is $5 an the elasticity of demand is -3, the profit maximizing price is?

2. A firm determined that its total cost of production is TC=200 +10Q +5Q2. At 10 units of output, the firm's marginal cost is?

3. If output is produced according to Q=4LK, where L is the quantity of labor input and K is the quantity of capital input, the price of K is $10, and the price of L is $5, then the cost minimizing combination of K and L capable of producing 32 units of output is?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9605596

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