Level of output should be produced to maximize profits

Assignment Help Business Economics
Reference no: EM13743234

The cost function for a firm is given by TC = 6,000 + 12.5Q. The firm sells output in a perfectly competitive market and other firms in the industry sell at a price of P = 25 - 0.5Q. (i) What level of output should be produced to maximize profits?

Reference no: EM13743234

Questions Cloud

Service during the third month of the taxpayers tax : Depreciable residential rental real property has been purchased for $70,000 and put into service during the third month of the taxpayer's tax year. For the applicable 27.5 year depresiation life. How many months of depreciation should be generated fo..
Oliver''s financial performance and financial condition : What is your assessment of Oliver's financial performance and financial condition. Is the company in good financial shape. Why or why not
Competition tends to dissipate rents-to drive : What is the best practices frontier? How does this relate to competitive advantage? Explain why rent seeking competition tends to dissipate rents-to drive them down so that there are no abnormal rents?
)explain the difference between a members''voluntary winding : In Australian Securities and InvestmentsCommissionv Healey[2011] FCA 717 Justice Middleton held:A director is an essential component of corporate governance ... The role of a director is significant as their actions may have a profound effect on the ..
Level of output should be produced to maximize profits : The cost function for a firm is given by TC = 6,000 + 12.5Q. The firm sells output in a perfectly competitive market and other firms in the industry sell at a price of P = 25 - 0.5Q. (i) What level of output should be produced to maximize profits?
How do you feel about this type of art : Reasons we make art as it relates to the gates, what does art bring the one's life, how do you feel about this type of art?
The volume of home loans has traditionally decreased in wint : EzylendLtd is a finance company that provides home loans to the public. Traditionally, the volume of business has varied according to the different seasons in the year. Based on past trading patterns, the volume of home loans has traditionally decrea..
Calculate the calories from carbohydrate : Calculate the calories from carbohydrate. Multiply total grams of carbohydrate per day by 4 calories per gram, Calculate the calories from protein. Multiply total grams of protein per day by 4 calories per gram
What are the supply chain challenges to the approach : Assume Apple's business strategy has been to introduce a new iPad generation around October of each year, just in time for the Christmas season. Thinking across the entire supply chain, what are the supply chain advantages of this approach. What ..

Reviews

Write a Review

Business Economics Questions & Answers

  Elucidate a rightward shift of aggregate demand curve

insist that this represents a rightward shift of aggregate demand curve. Who is right. Explain.

  Illustrate what is the minimum price neccessary

Illustrate what is the minimum price neccessary for this firm to produce any output in the short run.

  What will be the profit of each firm

What will be the profit of each firm? How much did total production go down because of the collusion? How much did the price go up?

  Elucidate the social gain from the market for cars

elucidate the social gain from the market for cars. Be sure to show gains and losses to all relevant groups of Americans.

  What concerns might you have about such an approach

The economy has recently turned around, and one of your colleagues suggests that you could hire 25 people for $50,000 per employee to do the sales job as independent agents at a cost of goods sold (COGS) of only 0.5%. What concerns might you have abo..

  Q1 what will happen to the demandsupply curve in case of

q1. what will happen to the demandsupply curve in case of outsourcing the cost of production decrease profit of the

  Q1 in the short run the interest rate parity model is

q1. in the short run the interest rate parity model is considered to be important in determining the expectations about

  Semiconductor chips are used to store information

Semiconductor chips are used to store information in electronic products, such as personal computers. One of the early leaders in the production of these chips was Texas Instruments (TI).

  What happens to the population size in the long run

What happens to the population size in the long run? Does the Iron Law of Wages (where Malthus asserted that technological change would not improve human living standards) hold in this case? Why or why not?

  What is the real value of your savings if the price level

Suppose you have $500 in savings when the price level index is at 100. (a) If inflation pushes the price level up by 10 percent, what will be the real value of your savings?

  Illustrate what type of organization has a high fixed cost

Illustrate what type of organization has a high fixed cost and low variable cost balance to run its operations. Discuss the balance of fixed and variable costs for the organization.

  Company with positive retained earnings to be unable to pay

It is possible for a company with positive retained earnings to be unable to pay cash dividend since they may not have the cash supply.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd