uppose perfect competitive firm short run cost function     total cost=1/3q3+3q2+10Q+40     . if the market price of the commodity is birr 26 per unit     A, determine the profit maximizing level of out put     B find average fixed cost ,average cost ,average variable cost and marginal cost of firm at optimum level of out put     C find maximum profit of the firm

Q: The market for sweet potatoes consists of 1,200 identical firms. Each firm has a short-run total…

A: Cost Curve refers to the curve that shows the cost of producing the different levels of quantities…

Q: A firm has the following revenue and cost functions. TR = 120 Q – Q2 TC =1/2 Q2 +30 Q + 10 Determine…

A: Costs refer to the expenses which are made by the firms on the purchase of factors of production.…

Q: A firm has the following revenue and cost functions. TR = 60 Q – Q^2 TC = 1/2 Q^2 +30Q + 30…

A: Given  Total revenue function: TR =60Q-Q2           ........... (1) Total cost function: TC =…

Q: For a perfectly competitive firm, suppose that all fixed cost is sunk and total fixer cost is 100…

A: Sunk cost refers to the cost that cannot be covered. Total cost is the sum of Fixed and variable…

Q: A perfectly competitive widget firm has this long run total cost equation: LTC = (½)q³ – 6q² + 40q…

A: LTC = (1/3)q3 - 6q2 + 40q LMC = dLTC/dq = q2 - 12q + 40 LAC = LTC/q = (1/3)q2 - 6q +40

Q: Total cost function of a perfect competitive firm is: TC = Q² + Q +225 a. At P = 35$, calculate Q*…

A: In perfect competition there are many firms producing identical goods. This makes firms price takers

Q: A company in a perfectly competitive market produces an output level Q = 100 where marginal revenue…

A: In perfectly competitive market firms do not have any power market power because goods are…

Q: In a fishery the long-run harvest function (harvest volume) is H(E) = aE – bE², with a, b…

A: Long-run harvest function: H(E) = aE - bE2, with a, b representing positive constants and E is…

Q: In the figure below, the firm's initial average total cost curve is SRAC with an initial marginal…

A: A firm in competitive market produces output at Price equals marginal cost.

Q: Consider the unit cost curves of a single firm in competitive market. The market price is X and the…

A: A perfectly competitive firm in short run produces at P=MC, i.e., at the intersection point of price…

Q: MC Isoprofit curve 40 Isoprofit curve AC 20 10 20 Quantity (Q) The above diagram depicts the…

A: At point B the Price is 35 and the quantity is 20. The average total cost of producing 20 units is…

Q: Consider a competitive firm operating in the short run. The firm takes the market price as given and…

A: A competitive market is characterized by a large number of buyers and sellers. The market price and…

Q: competitive firm has the short run total cost function: TC = Q³ – 8Q² + 30Q + 5 a. Find and graph…

A: Total Cost function for a competitive firm is gives as : TC = Q3 - 8Q2 + 30 Q + 5  Average Cost…

Q: The demand curve of a firm is p=1200–21q and its total cost is C(q) = 2q° – 66q² +600q+1000 where q…

A: Given that, The demand curve of a firm is  P = 1200 - 21q  Total cost is  C(q) = 2q3- 66q2+600q…

Q: a) What is the equation for the firm's short-run marginal cost (SRMC) curve. Draw it on a graph with…

A: Here, the short run total cost is SRTC=200+5q+0.5q2 where q is the number of rugs a firm produces.…

Q: The figure below shows an individual firm's marginal cost (MC), average variable cost (AVC), and the…

A: The above graph follows the shutdown condition which the firm should not operate when the price is…

Q: Sketch a diagram showing the marginal cost curve, the average variable cost curve, and the firm’s…

A: Marginal cost is the change in the total cost when an additional unit of output is produced. Average…

Q: competitive firm has the short-run cost function C(y) = 12y3−8y2+30y+12. At what price will the…

A:

Q: Table: Total Cost for a Perfectly Competitive Firm Quantity per Period Total Cost $10 16 20 3 22 24…

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

Q: Suppose an avocado farm has cost: C = 0.003q° + 25q + 1000 (where q is measured in bunches). The…

A: Given: The cost of a farm is: C = 0.003q3 + 25q + 1,000 The market price per bushel of avocados is =…

Q: Suppose a perfectly competitive firm's production function is f(x1,x2) = xx, e price of the product…

A: f(x1,x2) = x11/3 x22/3. Put x2 = 8 (Given) => f(x1,x2) = x11/3 (8)2/3. => f(x1,x2) = 4*x11/3 .…

Q: Rose growing is perfectly competitive and all growers have the same costs. The market price is $27 a…

A: Price=27$ Q=2700 Average total cost(ATC)=21 $ VC = $19

Q: guaranteë thất there isa well-defined solution to the long-run profit maximization problem? the…

A: Answer in step 2.

Q: a) Derive the total cost function, then find the firm’s average variable cost, average fixed cost,…

A: Since you have asked multiple questions under each sub-part, we will answer only the foremost…

Q: If demand function is given by P = 25 - Q and Total cost function TC = 3Q. Calculate firms price and…

A: Under perfect competition profit maximization will occur when  Price = Marginal cost

Q: A firm in a competitive market has the following cost structure: Quantity Total Cost (Units)…

A: Given  Output Total cost(TC) Average cost Average variable cost Total revenue(TR) Profit = TR-TC…

Q: Kyle owns a foreign used car dealership which sells the 2020 Toyota Aqua Hybrid. His total cost…

A: A perfectly competitive firm is a price taker and can sell any quantity of the commodity at the…

Q: A sells one of its products for $48 each. The monthly fixed costs are $3000. The marginal cost of…

A: Total cost is the total expenditure done by the producer in the production process. There are two…

Q: 5. Profit: iPhones Assume that Apple's marginal cost function for the manufacture of x 32GB iPhone…

A: Introduction We have given Apple's cost function for the manufacture of x 32 GB iPhone 6's per hour…

Q: Peg repairs transmissions. Her fixed costs are $300 a month and it costs her $24 of labor to repair…

A: A firm maximises profit at the level of output where marginal revenue (MR) equals marginal cost…

Q: A car wash service 'Clean and Shine' is a small business operating in the short run in a perfectly…

A: A car wash service 'Clean and Shine' is a small business operating in the short run in a perfectly…

Q: COnsider the following firm in a competitive market: total cost= 50+.5Q     Q= Quantity What is…

A: Costs are the expenses that a firm incurs in the production of goods and services.  In the short…

Q: onsider a firm with the following cost function:   C (q) = 4q^2 + 100   Find the long-run supply…

A: The long-run supply is the supply of goods available when all inputs are variable. Here, we…

Q: where P is the price and Q is the total quantity of the good. Each firm's fixed cost is $ What is…

A: The competitive market or perfect competition is a market type which is characterized by a large…

Q: The following table shows observation A on factor demands x1, x2, factor prices, w1, w2, and output,…

A: Calculation Is Given Below....

Q: If a firm's revenues do not cover its average variable costs, then that firm has reached its price…

A: The firm earns positive profit if revenues exceed total cost. Firm incurs loss if revenue is less…

Q: A perfectly competitive firm's short-run supply curve is the same as Selected Answer: b. the market…

A: In a perfectly competitive market there are large number of firms producing similar and identical…

Q: The cost function faced by a firm in a perfectly competitive market is the following ctyl-dy+10y+25,…

A: Total Cost (C) = 4y2 +10y+25 Average Total Cost (ATC) = C/y ATC = 4y + 10 + 25/y

Q: Lily's bakery operates in a perfectly competitive market where the prevailing price for a pumpkin…

A: Perfect competition is a market arrangement in which all businesses or enterprises offer the same…

Q: Consider a perfectly competitive market in which each firm's short-run total cost function is C= 25+…

A: Answer -

Q: A firm's faces a constant output price of $5. It produces 37 units and incurs a MC of $3. Which of…

A: A perfectly competitive firm maximizes profit by producing output at a level where Price equals…

Q: If the market price of a product is $10 that lie between the minimum average variable cost $8 (AVC)…

A: Given the market price = $10 Average variable cost = $8 Average total cost = $15

Q: A company's short run total cost function is given by TC(q) = 3.0q^(3) - 1.0q^(2) + 3.6q + 3.…

A: In the short run there exists fixed cost which does not depend on output. The production decision…

Q: Consider the following cost curves faced by each firm: TC = 60 + 0.5q and MC = q, where q is the…

A: In perfectly competitive market, price is constant so price is equal to marginal revenue. Profit is…

Q: Exercise 2: A perfectly competitive firm produces two goods, X and Y, which are sold at £36 and £200…

A: Given; Price of good X= £36 per unit Price of good Y= £200 per unit Total cost; TC=3x3+2y2-A where;…

Q: A competitive firm has the short-run cost function C(y) = 12y3−8y2+30y+12. At what price will the…

A: Let the selling price b "p"Now, TR=p*yTR=pyWe can derive MR from this,MR=dTRdy=p

Q: A perfectly competitive, profit maximizing firm earns zero economic profit in the long run. The…

A:

Q: A firm has the cost function c(y) = y2+1 and can sell its output at a price of p. a) compute and…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: A firm has the following revenue and cost functions. TR = 120 Q – Q2 TC =1/2Q2 +30 Q + 10 Determine…

A: Profit is maximized when MR = MC. MR = dTR/dQ = 120 - 2Q MC = Q + 30