Microeconomics Analysis 1 Convex-concave costs Consider the 1-input, 1-output technology defined by the cost function f (z) = {(z+1)2— 1, z<1 8-V.Z — 5, z> 1 Fix the price of the input good at w = 1. 1. Find the total cost function. Plot it for quantities up to 10. Find the average cost function. […]
Choose one of the following videos below and explain what is the video talking about (summarize it using your own words not less than 100 words).
ASSIGNMENT Choose one of the following videos and answer the questions below 4.6 The Relationship Between Average Total Cost and Marginal Cost – YouTube Episode 21: Accounting Costs vs. Economic Costs – YouTube What is the video talking about (summarize it using your own words not less than 100 words). (1 mark) Choose an economic […]
Calculate the average fixed cost, average variable cost, average total cost and marginal revenue. Should the company shut down or stay in business in the short run?
Intro Inclass/HW Set: Perfect Competition F22 Q1: Fill in the Blanks. Assume the fixed cost is $200. Product price is $130. Output Variable Cost Total Cost AFC AVC ATC Marginal Cost Total Revenue MR Profit 1 $100 300 200 130 2 $150 350 100 260 3 $210 410 200 390 4 $300 500 200 520 […]
Write a discussion board post with appropriate examples explain how marginal cost is related only to total variable cost.
Elasticity of demand and marginal cost and variable cost Write a discussion board post with appropriate examples explain how marginal cost is related only to total variable cost.
Identify and discuss in your words three (3) major analysis/discussions that were introduced in your chapter.
Micro Economics chapter 7 Assignment #3 Term Paper Requirements for “New Economy” Chapter Reading (two (2) pages, 11pt font single-spaced): Identify and discuss in your words three (3) major analysis/discussions that were introduced in your chapter. Why did you like them? Are they relevant to today’s current issues? Explain how each identified analysis/discussion utilized two […]
Define and calculate the remaining six major cost elements of a business when given the total costs and the quantity produced.
Assignment In this assignment, you will define and calculate the remaining six major cost elements of a business when given the total costs and the quantity produced, as well as use the computed costs to determine a minimum cost output level for that business. In addition, you will also clearly explain how the average total […]
Write a summary on perfect competition and talk about the characteristics of perfect competition.Write a 500 word summary that doesn’t need any sources or citing
Summary on perfect competition Talk about the characteristics of perfect competition many firms easy entry and exit goods are indentical no advertising price takers-no control over price Talk about results in the short run Marginal revenue will equal marginal cost The firm is perfectly elastic meaning it’s sensitive to a price change At optimal point […]
What role do the following factors play in the decision regarding whether to use marginal cost pricing on the new contract?
University Hospital is a regional leader in the very intense and medically sophisticated area of organ transplants. Mark Lewis, the director of the Transplant Center, has been with the Hospital for ten years. When Mark joined the hospital, he was put in charge of a kidney and heart transplant program that averaged 50 transplants per […]