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In: Math
Business: cost from marginal cost. A gourmet popcorn company determines that the marginal cost, in dollars,...
Business: cost from marginal cost. A gourmet popcorn company determines that the marginal cost, in dollars, of the xth bag of gourmet popcorn is given by C' (x) = -0.0004 x + 2.25 C(0)=$0 Find the total cost of producing 1000 bags of popcorn.
Solutions
milcah answered 2 years agoRelated Solutions
Amalgamated Popcorn, Inc. is a fairly small firm selling bags of flavored gourmet popcorn in a...
Amalgamated Popcorn, Inc. is a fairly small firm selling bags of
flavored gourmet popcorn in a popular mall. As shop owner and
operator, you have observed that your daily sales tend to follow a
pattern that can be stated as:
QP = 500 - 100PP + 1.25A -
20PS + 2I
where QP = unit sales of popcorn bags, PP =
price of bags in dollars, A = advertising expenses, PS =
price of soda pop sold at your stand...
Amalgamated Popcorn, Inc. is a fairly small firm selling bags of flavored gourmet popcorn in a...
Amalgamated Popcorn, Inc. is a fairly small firm selling bags of
flavored gourmet popcorn in a popular mall. As shop owner and
operator, you have observed that your daily sales tend to follow a
pattern that can be stated as:
QP = 500 - 100PP + 1.25A - 20PS + 2I
where QP = unit sales of popcorn bags, PP = price of bags in
dollars, A = advertising expenses, PS = price of soda pop sold at
your stand...
Pierce Manufacturing determines that the daily revenue, in dollars, from the sale of x lawn chairs...
Pierce Manufacturing determines that the daily revenue, in
dollars, from the sale of x lawn chairs is R(x)equals0.005 x cubed
plus 0.05 x squared plus 0.4 x. Currently, Pierce sells 80 lawn
chairs daily. a) What is the current daily revenue? b) How much
would revenue increase if 85 lawn chairs were sold each day? c)
What is the marginal revenue when 80 lawn chairs are sold daily?
d) Use the answer from part (c) to estimate R(81), R(82), and...
When marginal product is increasing: Marginal cost is increasing c. marginal cost is constant Marginal cost is...
When marginal product is increasing:
Marginal cost is
increasing c.
marginal cost is constant
Marginal cost is
decreasing d
average product is decreasing
In 2009, the price of Amazon's Kindle 2 was $430 in today's dollars, while iSuppli estimated that its marginal cost was $191 in today's dollars.
In 2009, the price of Amazon's Kindle 2 was $430 in today's
dollars, while iSuppli estimated that its marginal cost was $191 in
today's dollars.a. What was Amazon's price/marginal cost ratio?b. What was Amazon's Lerner index?c. What price elasticity of demand did it face if it was
engaging in short-run profit maximization?
1. A nondiscriminating monopolist earning positive short-run economic profit determines that its current marginal cost is...
1. A nondiscriminating monopolist earning positive short-run
economic profit determines that its current marginal cost is $15
and its current marginal revenue is $20. To maximize profit, a firm
should
raise price and increase output
raise price and decrease output
maintain a constant price and increase output
reduce price and increase output
shut down
2.
A monopolist maximizes profit at the quantity where the slope of
its total revenue curve equals the slope of its total cost
curve.
True
False...
The Super-Pop Popcorn Company requires a new popcorn plant in Asia. Management collects data related to...
The Super-Pop Popcorn Company requires a new popcorn plant in
Asia. Management collects data related to each site as
follows in the table below. Where the plant should be built?
Section 2:
The Super-Pop Popcorn Company requires a new popcorn plant in
Asia. Management collects data related to each site as
follows in the table below. Where the plant should be built?
Factor
Weight
Score
India
Jordan
Oman
Labor Attitude
0.3
60
70
65
Corn Quality
0.4
70
40
55...
A company produces at an output level where marginal cost is equal to marginal revenue and...
A company produces at an output level where marginal cost is
equal to marginal revenue and has the following revenue and cost
levels:
Total revenue = $1,450
Total cost = $1,500
Total variable cost = $1,300
What would you suggest?
shut down
continue to produce because the loss is less than the total
fixed cost
increase production to lower the marginal cost
reduce output to lower the marginal cost
raise the price
13. What mistake might a business make if it confuses marginal cost and average cost? 14....
13. What mistake might a business make if it confuses marginal
cost and average cost?
14. How does adverse selection explain why it might be difficult
to change the Affordable Care Act?
a. If the marginal revenue is less than the marginal cost, what should a profit-maximizing company...
a. If the marginal revenue is less than the marginal cost, what
should a profit-maximizing company do?
b. In a perfectly competitive graph, how does one calculate the
economic profit?
c. What is the shutdown point in a perfectly competitive firm?
'
d. Briefly, what is the difference between economies of scale
and diseconomies of scale? Why is it important to the firm?
e. Given the following total cost function TC(q) = 1000 + 13q.
Find the fixed cost, variable...
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