A price-taking firm's variable cost function is where Q is its output per week. It has a
Question:
where Q is its output per week. It has a sunk fixed cost of $3,000 per week.
What is its profit-maximizing output when the price is P = $243? What is the profit maximizing output if the fixed cost is avoidable?
Transcribed Image Text:
VC= Q°, VC-
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
Its profitmaximizing output when the price is P 243 is 9 units The profit maximiz...View the full answer
Answered By
Pranav Makode
I am a bachelor students studying at professor ram meghe institute of technology and research. I have a great experience of being an expert. I have worked as an expert at helloexperts and solvelancer as a part time job. I have also worked as a doubt solver at ICAD SCHOOL OF LEARNING, which is in Amravati city. I have also worked as an Freelancer.
I have great experience of helping students, as described above. I can help any students in a most simple and understandable way. I will not give you have any chance for complaint. You will be greatfull to accept me as an expert.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
A price taking firm makes air conditioners. The market price of one of their new air conditioners is $120. The firms total cost information is given in the tables below: Air conditioners per dayTotal...
-
Consider a price taking firm that has total fixed cost of $50 and faces a market determined price of $2 per unit for its output. The wage rate is $10 per unit of labor, the only variable input. Using...
-
A firm produces output according to a production function Q = F(K,L) = min {2K,4L}. a. How much output is produced when K = 2 and L = 3? b. If the wage rate is $30 per hour and the rental rate on...
-
Finally, Reza mentions that he was hired into the CFO role on an interim basis with the possibility of being made permanent based on performance. Although he wants to succeed in this role, he does...
-
Czick Company is considering an investment in a machine that costs $36,048 and would result in cash savings of $10,000 per year for 5 years. The companys cost of capital is 10%. 1. Compute the...
-
A standard bathroom scale is placed on an elevator. A 70 kg man enters the elevator on the fourth floor and steps on the scale. What will the scale read (in N) when the elevator begins to accelerate...
-
A manufacturer has provided a self-certification for functional safety with a dangerous failure rate of 4 FITS for a 3/2 direct-acting poppet solenoid valve. Is this value realistic for the process...
-
Universal Bank is a relatively young bank growing rapidly in terms of overall customer acquisition. The majority of these customers are liability customers (depositors) with varying sizes of...
-
A community's social capital plays an important role in how effective local governments and community-based organizations work together toward common goals. In short, What are ways in which a local...
-
1. How would you describe the founding team of Fenton, Hoffer, and Le Tuan? Is it a balanced team? What does each member bring to the business? Can you see gaps in their skills and capabilities that...
-
Consider again Problem 7. If Dan's avoidable fixed cost increases from $10 to $22.50, how will his supply function change?
-
Suppose Dan's cost of making pizzas is Dan is a price taker. What is Dan's supply function? What if Dan has an avoidable fixed cost of $10? Q? 40 de-4Q+
-
Let X, Y, and Z be independent uniform(0,1) random variables. (a) Find P(X/Y < t) and P(XY < t). (Pictures will help.) (b) Find P(XY/Z < t).
-
What are the advantages and disadvantages of paying professional people on an hourly basis? How should Beck maintain or change her salary model and why? What impact do you imagine a conventional...
-
How would you describe the organizational culture at Beck Consulting? How might the purposed new layer of managers impact the organizational culture at BCC? What, if anything, should Beck do if and...
-
Look again at Solved Problem 5.3. Use the graph in the answer to part (b) to draw a new graph to illustrate the answer to part (c). Make sure that your graph shows (i) the $2.75-per-ride tax, (ii)...
-
Suppose that exhibit 12.4 is your practices marketing forecast. Discussion Questions By law, you must charge everyone the same price. What do you charge? Your costs equal $100,000 plus $20 per...
-
The Power of Vision: Dreaming of Peace View Pray the Devil Back to Hell (Information about documentary available at http://www.praythedevilbacktohell.com/). This is the story of how Liberian women...
-
Solve each equation. 3x +5 - 5(x + 1) = 6x + 7
-
A firm has the following balance sheet: Assets Cash Accounts receivable Inventory Plant and equipment $ 15,000 150,000 92,000 170,000 $427,000 Liabilities and Equity Accounts payable Long-term debt...
-
1. A price-discriminating firm will charge a higher price to consumers with a relatively ________ (elastic/ inelastic) demand and a lower price to consumers with a relatively ________...
-
1. A price-discriminating firm will charge a higher price to consumers with a relatively ________ (elastic/ inelastic) demand and a lower price to consumers with a relatively ________...
-
1. A price-discriminating firm will charge a higher price to consumers with a relatively ________ (elastic/ inelastic) demand and a lower price to consumers with a relatively ________...
-
1. Q: What is a firewall rule? 2. Q: What is a binary search algorithm? 3. Q: What is multi-threading? 4. Q: What is a software bug? 5. Q: What is XSS (Cross-Site Scripting)? 6. Q: What is a...
-
1. Q: What is a subnet mask? 2. Q: What is a recursive function in programming? 3. Q: What is version control branching? 4. Q: What is a deadlock in concurrent programming? 5. Q: What is the...
-
1. Q: What is a pointer in programming? 2. Q: What is an algorithm complexity analysis? 3. Q: What is the difference between a stack and a heap in memory management? 4. Q: What is the purpose of an...
Study smarter with the SolutionInn App