(Answered) Suppose that the total short-run cost function of a firm is

Economics

Suppose that the total short-run cost function of a firm is given by TC = 200 + 20Q, where TC is the total cost and Q is the total quantity of output.

a. What is the firm"s fixed cost?

b. If the firm produces 100 units, what is its average total cost and average variable cost?

c. What is the marginal cost per unit produced if the firm is currently producing 100 units and decides to produce one additional unit?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9878275
Price:- $15

Verified Expert

Priced at $30 Now at $15, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question chapter 15 pricing an engineer has discovered a

Question: Chapter 15: Pricing An engineer has discovered a way to improve the production of a microchip to reduce its marginal cost from $1 to $0.80. Should the firm reduce the selling price of the microchip by $0.20. Ex ...

Question microeconomic theory argues that it economically

Question: Microeconomic theory argues that it economically rationale (and profitable) to sell additional output as long as the price covers the variable costs of production. How is this relevant to the determination of w ...

Question - consider a market with two platforms old and new

Question - Consider a market with two platforms, "old" and "new", that connect between a buyer and a seller. Suppose that if the buyer and the seller join the same platform, the buyer's payoff is 10 and the seller's payo ...

Question a find the nash equilibrium and also explain how

Question: a. Find the Nash equilibrium (and also explain how you come up with this equilibrium) b. Explain the implication of this equilibrium with regard to its stability and its role as an efficient allocator of resour ...

Question how is poverty measured in the us is this an

Question: How is poverty measured in the US? Is this an effective measurement? What are some of the issues that the government faces in trying to move people out of poverty? What are the principle challenges faced in mov ...

Question suppose a monopoly market has a demand function in

Question: Suppose a monopoly market has a demand function in which quantity demanded depends not only on market price (P) but also on the amount of advertising the firm does (A, measured in dollars). The specific form of ...

Question draw the representative firmmarket graph of a

Question: Draw the representative firm/market graph of a perfectly competitive market in long-run equilibrium. Be sure to include and label all necessary curves. (a) Suppose the market demand curve shifts outwards, descr ...

Question historically the value of the dollar has increased

Question: Historically, the value of the dollar has increased when the price of oil has risen, and declined when the price of oil has fallen. Explain why this has occurred, taking into account the fact that the US import ...

Question if we plot michelles gpa as a function of her

Question: If we plot Michelle's GPA as a function of her leisure time, we see that her GPA ?rst rises with leisure (taking some time o? improves her performance) but eventually decreases with leisure. 1. Plot the relatio ...

Question look at exercise compute the opportunity costs of

Question: Look at Exercise. Compute the opportunity costs of producing sweaters and wine in both France and Tunisia. Who has the lowest opportunity cost of producing sweaters and who has the lowest opportunity cost of pr ...

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