User Account

All Pages

Determine the firm revenue cost and profit functions

Assignment Help Mathematics
Reference no: EM131566969

Question: (a) A competitive firm receives a price p for each unit of its output, and pays a price w for each unit of its only variable input. It also incurs set-up costs of F. Its output from using x units of variable input is f(x) = √x. Determine the firm's revenue, cost, and profit functions.

(b) Write the first-order condition for profit maximization, and give it an economic interpretation. Check whether profit really is maximized at a point satisfying the first-order condition.

Reference no: EM131566969

Questions Cloud

How will that affect your financial institution : Discuss some of the challenges you may face in this new environment.What are the cultural, ethnic, social, and educational characteristics
Find the stationary points of f : Find the stationary points of f and determine the intervals where f increases.
Prepare a bank reconciliation for milner boat company : Milner Boat Company's bank statement for the month of September showed a balance per bank of $7,000. Prepare a bank reconciliation for Milner Boat Company
Research the hipaa violation case examples : Research the HIPAA violation case examples on the Department of Health and Human Services website. A flowchart describing cause and consequences.
Determine the firm revenue cost and profit functions : A competitive firm receives a price p for each unit of its output, and pays a price w for each unit of its only variable input.
Receiving inspection program at their plant : Lean and Six Sigma systems, as you want to be assured that they are actively improving their own processes
Speculate the outsourcing and offshoring opportunities : Speculate the outsourcing and offshoring opportunities. Details regarding the type of business activities that the company is involved in.
Draw the graph of h and explain why it is also concave : Use the same coordinate system to draw the graphs of two concave functions f and g, both defined for all x. Let the function h be defined.
How much was original donation in order to have enough funds : How much was the original donation in order to have enough funds to pay out all of the awards as described?

Reviews

Write a Review

Mathematics Questions & Answers

  Questions on ferris wheel

Prepare a Flexible Budget Gator Divers is a company that provides diving services such as underwater ship repairs to clients in the Tampa Bay area.

  Logistic map

This assignment has two question related to maths. Questions are related to bifurcation cascade and logistic map.

  Finding the probability of cards

This assignment has questions related to probabiltiy.

  Systems of ode

Find all the xed points, and study their stability and Draw the phase portrait of the system, as well as the graphs of the solutions in all relevant cases.

  Derive the boolean expression

Derive the Boolean Expression and construct the switching circuit for the truth table stated

  System of equations

Evaluate which equations are under-identified, just-identified, and over-identified.

  Linear programming problem

Linear programming problem consisting of only two constraints with one objective function.

  Find the natural domain

Find the natural domain of the given functions.

  Introduction to numerical methods

Compute the coecients of the polynomials using the term recurrence relation.

  Chart of the topological manifold

De?nition of smoothness of functions on a smooth manifold is chart independent and hence geometric.

  Mathematics in computing

Questions related on mathematics in computing.

  Complex problems

Complex problems

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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