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A firm has fixed costs of 300 and variable costs of (0.75Q + 8) per unit produced.
a) Define and find an expression for the firm's total costs in terms of Q. Let the inverse demand function faced by the same firm be:
P = 201- 2Q
Where Q ≥ 0
b) Define and find the firm's total revenue function.
c) Find the firm's profit function and draw the respective graph.
d) For which production levels does the firm have no negative profits? Find the firm's optimal production level.
a examine your y data excluding the hold out period to determine if it needs to be differenced to make it stationary.
w=10, r=25. The price of output is constant at $50. The production function is f(L,K) = L^.5K^.5.If the current capital stock is fixed at 1600 units, what is L* in the short run? How much profit will the firmearn?
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