Optimum velocity required to minimize the total costs

Assignment Help Microeconomics
Reference no: EM13686677

The cost for operating a commercial truck is kn, where k is a constant of proportionally, v is velocity in miles per hours and n is the trip length in miles. It is estimated that at 85 mph, the average cost of operation is $52 per mile. The truck owner wants to minimize the cost of operation, which requires balancing against the cost of delays and unscheduled maintenance, which is assumed to be $10 per hour. What is the optimum velocity required to minimize the total costs?

Reference no: EM13686677

Previous Q& A

  What should ali sloan do

What should Ali Sloan do

  Replacing this electric generation capacity

A large electric utility company has proposed building an $820 million combined cycle, gas-powered plant to replace the electric generation capacity at one of its coal-fired facilities. Develop three other alternatives for replacing this electric gen..

  Discuss in detail the ethical, negligence

Discuss in detail the ethical, negligence

  Due to the housing bubble

Due to the housing bubble. Many houses are not selling for much less than their selling price just two to three years ago. There is evidence that homeowners with virtually identical houses tend to ask for more if they paid more for the house. What fa..

  Price elasticity of demand for the product overall

Why would we expect that the price elasticity of demand for the product of an individual firm would typically be greater than the price elasticity of demand for the product overall?

  A customs broker assisting a foreign client

A  customs broker assisting a foreign client

  Elastic demand curve and inelastic supply curve

If the market has a very elastic demand curve and inelastic supply curve, how would the application of a subsidy is shared between consumers and producers? Use the tools of producer surplus and consumer surplus to answer this question. Is there a dea..

  What would be the size of the u.s. labor force

What would be the size of the U.S. labor force and how would a more generous unemployment insurance system affect the lull employment - explain why inflation usually increases during wartime.

  A delivery service that misplaces

A delivery service that misplaces, on average, three package per 1000 delivers is operating at six sigma level. What is the statement false?

  Expected to grow indefinitely at constant annual rate

A firm's current profits are $1,100,000. These profits are expected to grow indefinitely at a constant annual rate of 2 %. If the firm's opportunity cost of funds is 4.5 %, decide the value of the firm: The instant after it pays out current profits a..

Reviews

Write a Review

 

Similar Q& A

  The firm instead rents saucepans every period

Consider the pricing problem of Alcoa's cookware division. Suppose that the world last for only two periods, period 1 and period 2. A saucepan last two periods, so that a saucepan that is bought in period 1 can also be used in period 2. Consumers val..

  Describe marginal cost

On average college graduates earn significantly more income than those with less education and the disparity tends to widen into middle age. marginal external cost equals marginal private cost minus marginal social cost.

  Downward-sloping industry demand curves

When a single seller is confronted in a market by many small buyers, monopsony power enables the buyers to obtain lower prices than those that would prevail in a competitive markets.

  Any issues or opportunities your organization or industry

imagine you are part of a strategic planning group at walmart that is considering developing a new proposed product

  How to change default electives

1. What types of things do you need to consider if you want to change your default electives? What resources will you use to help you to make your decisions? 2. Are you satisfied with your default electives or do you think you should choose alterna..

  Which arguments might each dismiss

Which arguments might each dismiss?

  Human resorces econmiro 3rd ed need help on writing essay

need help on writing essay and case studies. essay must be 75 words or more and case studies must be 150 or

  Describe how government intervened and what their rationale

background information about the case study why the forces of supply and demand did not result in efficient operations

  Externalities and deadweight loss relationship i would like

i would like to know more about dead-weight loss and externalities what is their relationship and the causes and

  What would economist estimate marginal propensity to consume

Suppose economists observe that an increase in government spending of $10 billion raises the total demand for goods and services by $30 billion. 1. If these economists ignore the possibility of crowding out, what would they estimate the marginal p..

  Estimate what would happen to volume of services and

you are the administrator for a medical practice. assume all of your practices patients are covered by insurance.

  Te fixed cost for a steam line per meter of pipe is 450x

the fixed cost for a steam line per meter of pipe is 450x 50 per year. the cost for loss of heat from the pipe per

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