Find the profit maximizing level of output of this firm

Assignment Help Microeconomics
Reference no: EM13877376

A firm operating in a competitive market has the following total cost function: TC = 2.5Q3- 35.5Q2+ 210.5Q + 320

Find the profit maximizing level of output of this firm if the market price of this good is $165.5. What is the firm's shutdown price?

Reference no: EM13877376

Questions Cloud

Calculate the current cost and profit per unit : Calculate the current cost and profit per unit. How much of the current cost per unit is attributable to non-value-added activities?
Find the demand function for yankees ticket : Assuming all firm in the industry have the same total cost function given in the previous exercise, find the long-run price established in the market.
Subject to the constraint : Explain why the function f(x,y)=4x3-5y3 subject to the constraint  3x+2y=27 has no maxima or minima.
What are the long-term implications : Can this situation work? What happens if an employee as a technical question? Can he go to his linemanager and should the employees return to their former line managers at project completion?
Find the profit maximizing level of output of this firm : A firm operating in a competitive market has the following total cost function: TC = 2.5Q3- 35.5Q2+ 210.5Q + 320-Find the profit maximizing level of output of this firm if the market price of this good is $165.5. What is the firm's shutdown price?
Briefly explain the purposes of adjustments : Briefly explain the purposes of adjustments.
What are the current profit margins on both given trips : What are the current profit margins on both trips? Describe two ways that Take-a-Break Travel could cut its costs to get the profit margin back to their original levels.
How do permanent accounts differ from temporary accounts : How do permanent accounts differ from temporary accounts?
Find the volume of a solid : Find the volume of a solid under the graph of Z=3x2+3xy over the  rectangle R={x,y)/0≤x≤1,1≤y≤1}

Reviews

Write a Review

Microeconomics Questions & Answers

  What is the money multiplier-total value of bond purchase

There are four of you in a group- representing the individuals with currency in an economy. Each of you has $100. Use this information to answer the following questions. Additionally, all banks abide by a reserve ratio of (1/5), regardless of scenari..

  1 consider a macroeconomy was initially at equilibrium

1. consider a macroeconomy was initially at equilibrium level of real gdp.nbsp using an aggregate supply diagram and

  What is the economic basis for trade

What is the economic basis for trade? Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource differences.

  Determine the equilibrium price and quantity

Outline the significant factors that could cause changes in supply and demand for the product. Determine the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of..

  I price discrimination is selling a product at different

i. price discrimination is selling a product at different prices when the underlying cost is the same. describe the

  Recommend how fiscal and monetary policy can move those

part 1 assume that the country is in a period of high unemployment interest rates are at almost zero inflation is about

  Which countries are experiencing a cost push inflation

According to this week s lecture, there are two types of inflation (demand pull and cost push). Which countries are experiencing a demand pull inflation? ? You may need to complete additional research to determine the inflation type for each country.

  A firm can allocate the given advertising budget

Analyze the method by which a firm can allocate the given advertising budget between different media of advertisement.

  Generic supply and demand curves

If society is producing a combination of goods on its production possibilities frontier - Suppose you can write generic supply and demand curves such that QS= A + BP and QD= D + CP. Equilibrium price is given by

  We said that an uncrowded country club golf course has

We said that an uncrowded country club golf course has aspects of a public good. Why? Is it still public good if it becomes crowded and people’s games are slowed down?

  Calculate each fund managers average

Calculate each fund managers average

  What is the amound of the tax per gallon of gasoline

The government has imposed a tax on gasolone. What is the amound of the tax per gallon of gasoline How much tax revenue will government collect from this tax How much of the tax is paid by consumers

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