What is the equation for the average variable cost

Assignment Help Business Economics
Reference no: EM13836423

Bob’s Whole Catfish is a southern Alabama farm that operates in the perfectly competitive catfish farming industry. Bob’s short-run total cost curve is STC(Q)=400+2Q+0.5Q2 where Q is the number of catfish harvest per month. All of the fixed costs are sunk.

(a) What is the equation for the short-run marginal cost (SMC)?

(b) What is the equation for the average variable cost (AVC)?

(c) What is the minimum level of average variable costs?

(d) What is Bob’s short-run supply curve?

Reference no: EM13836423

Questions Cloud

Find the average products of capital-labor and materials : Suppose you are given the following Total Product Function: ,where Q=100K ^ 3/2 L ^ 4/2 M ^ 4/7 is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Find the Average products..
What fraction equal to the decimal : what fraction equal to the decimal .38
Prepare a formal business report for your current supervisor : Prepare a formal business report for your current supervisor - This report will compare and contrast how a specific law or legal issue affects operational policies through supply chain and logistics considerations.
Comparative advantage and competitive advantage : Distinguish between comparative advantage and competitive advantage (may take some research on your part). Which is used by economists as a justification for international trade? Why?
What is the equation for the average variable cost : Bob’s Whole Catfish is a southern Alabama farm that operates in the perfectly competitive catfish farming industry. Bob’s short-run total cost curve is STC(Q)=400+2Q+0.5Q2 where Q is the number of catfish harvest per month. All of the fixed costs are..
Explain why in cross-cultural negotiations : Explain why in Cross-Cultural Negotiations, the heuristic of availability is a culturally significant bias in a negotiation to sell a computer in a highly feminine society
Simplicity of our current technological devices : What are some of the ways that the ease and simplicity of our current technological devices result in individuals surrogating of their daily responsibilities onto these devices?
Find the marginal products of capital-labor and materials : Suppose you are given the following Total Product Function: ,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Find the Marginal products of capital, labor, and ma..
How does globalization affect us criminal justice : How does globalization affect U.S. criminal justice practices and efforts? Can the United States maintain its current criminal justice policies and procedures and also maintain a global relationship

Reviews

Write a Review

Business Economics Questions & Answers

  Assume that a country has a fixed exchange rate

Assume that a country has a fixed exchange rate, but that the rate is above the rate that would occur if the central bank did not intervene to maintain it. That is that the desired "e" is greater than the "e" that would occur without central bank int..

  Diagonal line through the original would intersect

Prove utilizing a graph, that a diagonal line through the original would intersect each indifference curve once.

  Calculate anthony his explicit cost

Calculate Anthony his explicit cost for operating his consulting firm for a year?

  Which tactic to overcome resistance to change is a relative

If individuals resisting change are included in making change decisions in an attempt to gain their support, what is this approach called?

  Q1 according to the article gdp every capita or every head

q1. according to the article gdp every capita or every head in europe has leveled off at illustrate what fraction of

  Illustrate what were you thinking about the economy

Illustrate what were you thinking about the economy in 2005 and did you ever foresee a crisis of this magnitude. What policies could you have suggested to avoid the impending economic crisis.

  Increased due the large defense spending

Nepal as a small open economy declared war on Germany on 4 September 1939, in which its government purchases increased and the rest of the world's government purchases also increased due the large defense spending. Then, for Nepal, holding others thi..

  Critical to the success of the marketplace system

Elucidate why is private property also protection of property rights, so critical to the success of the marketplace system.

  Management has recognized the effect of changes in the real

Management has recognized the effect of changes in the real-world competitive environment and government policies on other industries and anticipates similar events occurring in their industry, so they ask you for a report considering the following p..

  Inventory systems quickly transmit large demand

Explain how could those same inventory systems quickly transmit large demand shocks directly to sudden, deep recessions.

  What is his estimated monthly mortgage payment

Dr. Dolittle decides to sell his current home and move to a larger home. He estimates that he can sell his current home for $100,000 and can buy a larger home for $175,000. He plans to use the entire $100,000 sale proceeds as a down payment on the ne..

  Qassume there are 2 products clothing as well as soda both

q.assume there are 2 products clothing as well as soda. both brazil plus the us produce each product. brazil

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