Question: need help with the following as much as possible, also if anything missing please let me know . . . X 2.5 $ (thousands) C(q)

 need help with the following as much as possible, also if

need help with the following as much as possible, also if anything missing please let me know

anything missing please let me know . . . X 2.5 $

. . . X 2.5 $ (thousands) C(q) 2000 2. The function C(q) gives the cost in dollars to produce q barrels of olive oil. R(q) 1500 (a) What are the units of marginal cost? 1000 (b) What is the practical meaning of the statement MC = 3 for q = 100? 500 4. In Figure 2.62, is marginal cost greater at q = 5 or at q = 30? At q = 20 or at q = 40? Explain. 100 200 300 q (thousands) Figure 2.65 $ 500 C(q) 400 (a) q = 75 300 (b) q = 150 200 100 (c) q = 225 q (d) q = 300 10 20 30 40 50 Figure 2.62 B. Total cost is C = 8500 + 4.65q and total revenue is R = 5.15q, both in dollars, where q represents the quantity 18. Table 2.12 shows the cost, C(q), and revenue, R(q), in terms of quantity q. Estimate the marginal cost, C'(q), produced. and marginal revenue, R'(q), for q between 0 and 7. (a) What is the fixed cost? Table 2.12 (b) What is the marginal cost per item? 90 1 2 3 4 5 6 7 (c) What is the price at which this item is sold? C(q) 9 10 12 15 19 24 30 37 R(q) 0 5 10 15 20 25 30 35 (d) For what production levels does this company make a profit? (e) How much does the company make for each additional unit sold? 14. Figure 2.65 shows cost and revenue for producing q units. For the production levels in (a)-(d), is the company making or losing money? Should the company be increasing or decreasing production to increase profits End of document

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