User Account

All Pages

Demand and short-run cost functions

Assignment Help Microeconomics
Reference no: EM131865335

"Market Structures" Please respond to the following:

  • Assume a startup health care company faces the following weekly demand and short-run cost functions:

VC = 20Q + 0.015Q2 with MC=20 + 0.03Q and FC = $12,000

P = 75 - 0.04Q and MR = 75 - 0.08Q

*Where price is in $ and Q is the number of patients per week. All answers should be rounded to the nearest whole number.

  • Algebraically, determine what price the company should charge in order for the company to maximize profit in the short run. Determine the quantity that would be produced at this price and the maximum profit possible.

Reference no: EM131865335

Questions Cloud

At what point will the initial investment be paid back : At what point will the initial investment be paid back? A firm has several options available to it in times of financial distress.
Explain what the relationship between the balance : Explain what the relationship between the balance of the current account and the exchange rate should be. Be as clear as possible in your explanations
Describe the convention you are planning : Describe the (fictional) convention you are planning. Include the organization attending, the number of attendees and the location.
How is cross-cultural work more demanding : What fears or anxieties do you have related to working with culturally diverse clients? What have you done already to alleviate those fears?
Demand and short-run cost functions : Assume a startup health care company faces the following weekly demand and short-run cost functions:
Graph jane budget line on the same graph : a) Illustrate the indifference curve associated with a utility of 400 and the indifference curve associated with a utility of 1000. b) Graph Jane's budget line
Assess the impact of mcdonaldization in your life : In this fourth and final journal entry, take a synthetic look at the issue, to assess the impact of McDonaldization in your life.
Self employed person has retirement plan : A self employed person has a 401(k) retirement plan with The Hartford. How much interest will the person have earned?
Higher or lower than the old equilibrium price : Can you tell for certain whether the new equilibrium price will be higher or lower than the old equilibrium price? Briefly explain.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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