Problem suppose firms cost function is cq 4q2 16a find, Ask an Expert

Economics

Problem: Suppose firms cost function is C(q) = 4q² + 16

a) Find variable cost, fixed cost, average cost, average variable cost,and average fixed cost. (Hint: Marginal cost is given by MC = 8q)

b) Show the average cost, marginal cost, and average variable cost curves on a graph.

c) Find the output that minimizes average cost.

d) At what range of prices will the firm produce a positive output? (Hint: MC > AV C)

e) At what range of prices will the firm earn a negative profit? (Hint: include fixed cost.)

f) At what range of prices will the firm earn a positive profit?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92586278

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question president trump has complained that the us trade

Question: President Trump has complained that the U.S. trade deficit is too large. Based on the uses-of-saving identity (S = 1 + NX), how could the U.S. trade deficit be reduced (what are the options)? Explain fully and ...

Question 1 identify and evaluate consequences of government

Question: 1. Identify and evaluate consequences of government price supports and subsidies in U.S. farming markets. 2. Do rent ceiling laws for apartments result in an efficient allocation of apartment units? Why or why ...

Question there is ongoing policy debate concerns whether to

Question: There is ongoing policy debate concerns whether to legalize the use of drugs, such as marijuana. Some researchers estimate that legalizing marijuana would cause its price to fall by as much as 95 percent. Propo ...

Question using a supply-and-demand graph and assuming

Question: Using a supply-and-demand graph and assuming competitive markets, show and explain the effect on equilibrium price and quantity of the following: A technological change that reduces the cost of producing X-rays ...

Question your executive team has asked you to be a mentor

Question: Your executive team has asked you to be a mentor for a new MBA graduate who was assigned to accompany you on your next trip to Asia. As you begin your discussion with the new graduate, you sense that there are ...

Question suppose that high-definition television sets hdtvs

Question: Suppose that high-definition television sets (HDTVs) are normal goods. Would the compensated demand curve for HDTVs be flatter or steeper than the uncompensated demand curve? Explain your answer using a careful ...

Question please use the american psychological association

Question: Please use the American Psychological Association style writing format for referencing your sources. Reference Librarians at each campus of the college can also help you with this. Recommended website: Purdue U ...

Question in october 1987 the us stock market crashed with

Question: In October 1987, the US stock market crashed, with the Dow Jones Industrial Average falling 508 points, or 22%, in a single day. Yet the economy continued to prosper, with real GDP rising faster in the four qua ...

Question discuss the concepts of engineering projects and

Question: Discuss the concepts of engineering projects and their investment profile. How would you assess the economic feasibility of engineering projects in your organization? Give examples from your organization to sup ...

Question market price is 50 the firms marginal cost curve

Question: Market price is $50. The firm's marginal cost curve is given by MC = 10 + 2Q. a. Find the profit-maximizing output for the firm. b. At this output, is the firm making a profit? Explain your answer. The response ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert