User Account

All Pages

Competitive firm has the total cost function

Assignment Help Business Economics
Reference no: EM131554015

Assume that a competitive firm has the total cost function:

TC = 1q^3 - 40q^2 + 710q + 1700

The price of the firm's output (sold in integer units) is $550 per unit.

Using tables (not Calculus) find a solution for total profit at the optimal output level?

Specify your answer as an integer.

Reference no: EM131554015

Questions Cloud

Will the estimate be an underestimate or overestimate : If the area under the curve of f(x) = 25 - x2 from x = -4 to x = 0 is estimated using four approximating rectangles and left endpoints.
Calculate the cost of equity using the ddm method : The most recent stock price for the company is $76. Calculate the cost of equity using the DDM method.
Consider the responses you might receive : Consider the responses you might receive. Will these responses provide answers to the research question?
Marginal tax rate-what is the net investment : If IBM has a marginal tax rate of 40 percent, what is the net investment?
Competitive firm has the total cost function : Assume that a competitive firm has the total cost function:
Give three examples of qualitative data : Give an example of a question that might be found on a survey, poll, or questionnaire that could lead to incorrect or confusing results.
What evidence should be collected at the arrest : How to approach a domestic violence situation when responding to an emergency call.What evidence should be collected at the arrest.
Company is using economic order quantity model : The company is using Economic Order Quantity model in placing the orders. What is the average inventory held during the year?
Natural rate of unemployment : Consider what is "natural" about the natural rate of unemployment. Why might the natural rate of unemployment differ across countries?

Reviews

Write a Review

 

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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