Equation for the average variable cost function

Assignment Help Basic Computer Science
Reference no: EM131441620

Sport Tee Corporation manufactures T-shirts bearing the logos of professional football teams. The wholesale market for sport T-shirts is perfectly competitive. The manager forecasts the wholesale price of T-shirts next year to be $7.00. The firm's estimated marginal cost is where Q is the number of T-shirts produced and sold each month. Sport Tee Corporation will have a fixed cost of $2,000 per month.

1. Given the estimated marginal cost function above, write the equation for the average variable cost function and the total variable cost function.

2. What is the profit-maximizing number of T-shirts that Sport Tee should produce and sell each month? (Note: you will find 2 output levels that are solutions to your optimization problem. Test which one is actually the optimal level of output).

3. How much monthly profit (or loss) will Sport Tee Corporation earn?

Reference no: EM131441620

Questions Cloud

Individuals pay the same marginal tax rate : All individuals pay the same marginal tax rate, regardless of income (a flat tax), and ii) there are no exemptions or deductions available when calculating taxable income. In a short essay (2-3 paragraphs) discuss the impact on equity (both types)..
Measure of economic wellbeing : 1. What are the shortcomings of GDP as a measure of total production in an economy, and as a measure of economic wellbeing? 2. How does the existence of financial intermediaries affect liquidity and risk in the financial market?
Designing a multithreaded application : A Sudoku puzzle uses a 9 × 9 grid in which each column and row, as well as each of the nine 3 × 3 subgrids, must contain all of the digits 1 • • • 9. This project consists of designing a multithreaded application that determines whether the solutio..
Calculate closing stock price : You have found the following stock quote for RJW Enterprises, Inc., in the financial pages of today's newspaper VOL NET 52-WEEK YLD LO STOCK (DIV) PE CLOSE CHG 47.97 92.13 RJW 2.20 2.5 19,657 49 Use the reported dividend.
Equation for the average variable cost function : 1. Given the estimated marginal cost function above, write the equation for the average variable cost function and the total variable cost function.
Exploit the workers from developing countries : The Multi-national corporations from the U.S. and other industrialized countries exploit the workers from developing countries. (Use theory of Heckscher-Ohlin model or comparative advantage to discuss this topic.)
Concepts of a shift in the demand curve versus : Use the concepts of a shift in the demand curve versus a movement along the demand curve to explain why this increase in sales does not represent a violation of the law of demand.
Explain diversification : Use the following table to answer the question. Boom Normal Recession 20% 40% 20% Probability $30 mil $20 mil $10 mil CF (Wegmans $20 mil $20 mil $20 mil CF (Firm A) $60 mil $40 mil $20 mil CF (Firm B) $15 mil $10 mil 5 mil CF (Firm C) $20 mil $10..
What special issues might arise in such a group : Under what circumstances might it be beneficial to design a group in which both children and their parents would participate? What special issues might arise in such a group, and how would you manage them?

Reviews

Write a Review

Basic Computer Science Questions & Answers

  Techniques for establishing requirements

Software design engineers use different data gathering techniques for establishing requirements. Requirements come in many different forms and levels of abstraction, but need to be very specific and unambiguous. Of the two different kinds of requi..

  Conditions that make systems vulnerable

Research a specific buffer overflow attack technique of your choice.  This should be a technique that has been actively exploited in the past 5 years or is still a current threat.  Prepare a presentation on the attack that includes at least the fo..

  How do you define the frequency or cycling of your example

Filters exist in natural systems, biosystems, psychsystems, mechanical, etc. Give an example of filtering in nonelectronic area; specify the filter input, output, and their corresponding units of measurements.

  Snmp acceptance short paper

SNMP initially appeared in 1988, but it did not receive widespread adoption. What have been the issues with SNMP, and have they been addressed? How widely used is SNMP now? Find some examples of tools that use SNMP.

  How long does it take to send out 10 bits

How long does it take to send out a single character (8 bits)?

  Explaining project manager-s role in project management

Describe in scholarly detail project manager's role in project management and job responsibilities related with position.

  Create a monospaced font of point size

How would you create a Monospaced font of point size 20 that is bold? Give the Java statement needed.

  A complete home network

Develop an entire home network with a budget of $1,000.00. Your configuration must assume the purchase of associated hardware for access to both wireless and wired connections and a broadband connection. As part of this design and configuration, you ..

  Cost and measurement analysis

Identify two non-current assets and comment on how Yahoo values these two assets in the balance sheet.

  Mobile device security

Suggest three (3) benefits that organizations can gain from deploying a Mobile Device Management (MDM) security solution. Additionally, suppose that an organization chose not to deploy an MDM solution. Determine what you believe to be the major risks..

  Calculate roots of function by newton-raphson approximation

Best known iterative method for calculating roots of a function f (that is, x-values for which f(x) is 0) is Newton-Raphson approximation.

  Write a program that requests a year in a masked text box

Length of Year Write a program that requests a year in a masked text box and then di plays the number of days in the year. See Fig. 3.40. Hint: Use the Add Years method and tI Date Diff function.

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