A firm has a cost function given by c(y) 10y 2 1000 At what output is average cost minimized ...

A firm has a cost function given by c(y) = 10y 2 + 1000. At what output

Question:

A firm has a cost function given by c(y) = 10y² + 1000. At what output is average cost minimized?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Intermediate Microeconomics

ISBN: 978-0393934243

8th edition

Authors: Hal R. Varian

See More Books

Question Posted: Feb 25, 2019 06:08 AM

See More Questions

A monopolist has a cost function given by c(y) = y2 and faces a demand curve given by P(y) = 120 y. (a) What is its profit-maximizing level of output? 30. What price will the monopolist charge?...
rn Assume that a firm has a cost function with discrete values as given in the following table: 1 2 5 6 7 8 10 12 15 20 20 40 Q Q AC MC 1 (i.) Determine the marginal and average costs for all...
A firm has the cost curve C(q) = 25 + q 2. Show how the firm's average cost varies with output. Is there a minimum average cost and, if so, at what level of output is average cost minimized?
For nearly 50 years, Loganville Window Treatments (LWT) of Loganville, Georgia, has made interior shutters that are sold through decorating centers. Figure 3.20 shows some of the various styles of...
Make the adjusting journal entry necessary at the end of the period in the following situation: On June 1, the company received $9,600 in advance for 12 months of service to be provided, with the...
A basement is to be 50 ft long, 30 ft wide, and 8 ft high. How much dirt will have to be removed when this basement is built? Answer in cubic meters. When necessary round your answers to the nearest...
What is prescriptive analytics?
Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the issuance under the following assumptions. (a) The stock had a par value of $5 per share and was issued for a...
The Unit 2 Assignment should respond substantively to the prompt below. The answers should reflect your own thought and not just repeat what is found in the readings. The essays should be...
Allie has bought a new apple orchard. The orchard has a single file of trees, numbered from 1 to N. Each tree has a certail number of ripe apples. Allie has a rule she wants to follow. She wants to...
When prices are (p 1 , p 2 ) = (2, 1) a consumer demands (x 1 , x 2 ) = (1, 2), and when prices are (q 1 , q 2 ) = (1, 2) the consumer demands (y 1 , y 2 ) = (2,1). Is this behavior consistent with...
If the supply curve is given by S(p) = 100 + 20p, what is the formula for the inverse supply curve?
Express each as the logarithm of a single quantity. See Example 3. 1/2log b a 2 log b 5 3 log b x Data from Example 3 We may also express a sum or difference of logarithms as the logarithm of a...
Question 13 (12 marks) Consider the following separable differential equation. dy -cos (y)e-z (a) Find the constant (or equilibrium) solutions of this differential equation. There are infinitely many...
Simplifying the ABC System: Equally Accurate Reduced ABC Systems Selected activities and other information are provided for Patterson Company for its most recent year of operations. Expected...
In problems 1-5, Use the limit of a quotient difference definition of the derivative to determine the derivative f'(x) of the function. 1. ( ) f(x) = 2x 2. ( ) f(x) = x + 1 1 x+1 3. ( 4. ( 5. ( 6. (...
Consider two functions f and g, where f (x, y) = g(r, 0) and x = r cos 0, y = r sin 0. (a) With the use of a diagram, identify all the relationships between f, g,x, y, r and 0. (b) Treat a = r cos ,...
1. The market for products designed for young adults in North America is expand- ing. Provided is a stemplot of the percents of residents aged 25-35 in select Canadian cities for 2012 as estimated by...
In the Kaizen philosophy, what is the difference between ongoing improvement and innovation?
The bookkeeper for Riley, Inc., made the following errors: a. A cash purchase of supplies of $357 was recorded as a debit to Supplies for $375 and a credit to Cash of $375. b. A cash sale of $3,154...
We revisit our financially afflicted friend, Charlie Plopp. This time we will look at a slightly generalized version of the same problem. All else is as before, but the willingness to pay of...
Yet again we tread the dusty streets of Charlie Plopps home town. Everything is as in the previous problem. Professional bulldozer operators are willing to pay $6,000 for a bulldozer and recreational...
General Scooters has decided to replace its old assembly line with a new one that makes extensive use of robots. There are two contractors who would be able to build the new assembly line. General...
Diaz Company issued $91,000 face value of bonds on January 1, Year 1. The bonds had a 9 percent stated rate of interest and a ten- year term. Interest is paid in cash annually, beginning December 31,...
Manvir had to make payments of $1,125 every 6 months to settle a $22,000 loan that he received at 4.52% compounded semi-annually. a. How long did it take to settle the loan?
If I invest a single amount of $14,000 in an account earning 8% p.a. compounding quarterly for 5 years, how much interest will I have earned in those 5 years?

A firm has a cost function given by c(y) = 10y 2 + 1000. At what output

Question:

Step by Step Answer:

Set AC MC ...View the full answer

Intermediate Microeconomics

Students also viewed these Business questions