Calculate the firms short-run total cost curve, Managerial Economics

Assignment Help:

A firm producing hockey sticks has a production function given by

X = 2 KL

In the short-run, the firm's amount of capital equipment is fixed at K = 1000. The rental rate for capital (PK) is PK = v = Re 1.00; and the wage rate for L is PL = w = Rs 4.00.

a) Calculate the firm's short-run total cost curve. Calculate the short-run average cost curve.

b) What is the firms short-run marginal cost function? What are the STC, SATC & SMC for the firm if it produces25 hockey sticks?

 


Related Discussions:- Calculate the firms short-run total cost curve

Explain the short run cost function, In the short-run the firm can't modify...

In the short-run the firm can't modify or change overhead factors like equipment, plant and scale of its organisation. In the short-run output can be decreased or increased by chan

Interaction of supply and demand, Interaction of supply and demand, equilib...

Interaction of supply and demand, equilibrium price and quantity In perfectly competitive markets the market price is determined by the interaction of the forces of demand and

What is the meaning of demand, What is the meaning of demand In economi...

What is the meaning of demand In economics, demand has a specific meaning distinct from its ordinary usage. In common language we treat 'desire' and 'demand' as synonymously. T

General and selective credit control, General and Selective Credit Control ...

General and Selective Credit Control These are imposed with the full apparatus of the law or informally using specific instructions to banks and other institutions.  For insta

Explain the diminishing marginal utility, Diminishing Marginal Utility ...

Diminishing Marginal Utility Diminishing marginal utility as well is to be held responsible for the rise in demand for a product when its price declines. When an individual pur

New commission structure motive salespeople, A medical insurance company of...

A medical insurance company offers its salespeople the following compensation scheme: each worker takes a fixed salary  and, in addition to that, a commission depending on the volu

Advantages of planned economy, Advantages of Planned System i)   Uses...

Advantages of Planned System i)   Uses of resources :  Central planning can lead to the full use of all the factors of production, so reducing or ending unemployment. ii

Market structures, Market Structures This refers to the nature and deg...

Market Structures This refers to the nature and degree of competition within a particular market.  Capitalist economies are characterised by a large range of different market

Features of planned economy, Features of Planned Economy The command e...

Features of Planned Economy The command economies relies exclusively on the state.  The government will decide what is made, how it is made, how much is made and how distribut

Short run production function, Explain the short-run production function wi...

Explain the short-run production function with one variable input with the help of assumed figures. Clearly indicate the three stages of physical product, using table and graphs.

Write Your Message!

Captcha
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