All categories

1 year ago

8. Suppose the total cost function is as follows: TC= x^3/3 -x^2+11x

1 answer:

7 0

At 1.5 the average total cost is a minimum and the total cost will be 10.25 where the TC = total cost; x = output (in 1,000 units)

<h3>What are maxima and minima?</h3>

Maxima and minima of a function are the extremes within the range, in other words, the maximum value of a function at a certain point is called maxima and the minimum value of a function at a certain point is called minima.

We have a total cost function:

TC = x³/3 - x² + 11x

Average total cost:

$\rm F\left(x\right)=\dfrac{\left(\dfrac{x}{3}^3-\:x^2\:+\:11x\right)}{x}$

Differentiating with respect to x and equating to x

d(F(x))/dx = 0

We will get:

x = 1.5

F'(1.5) > 0

At 1.5 the average total cost is a minimum.

Thus, at 1.5 the average total cost is a minimum and the total cost will be 10.25 where the TC = total cost; x = output (in 1,000 units)

Learn more about the maxima and minima here:

brainly.com/question/6422517

#SPJ1

You might be interested in

Baker Corp. is required by a debt agreement to maintain a current ratio of at least 2.5, and Baker's current ratio now is 3. B

Orlov [11]

Answer:

$1.67 Million

Explanation:

Current asset = 15 Million

Current liabiltiy = 15 Million/3

= 5 Million

Let the inventory X can be purchased with short term debt without violation

per current ratio requirement

(15 + x)/5+x = 2.5

15 + x = 12.5 + 2.5x

2.5 = 1.5x

x = $1.67 Million

Therefore, $1.67 Million inventory can Baker purchase without violating its debt agreement if their total current assets equal $15 million

7 0

3 years ago

The steam requirements of a manufacturing facility are being met by a boiler whose rated heat input is 5.5 × 106 Btu/h. The comb

e-lub [12.9K]

Solution:

Given Information,

Heat input is ( $Q_{in}$ ) = 5.5 × $10^{6}$ Btu/h

Combustion efficiency of the boiler ( $n_{furnance}$ ) = 0.7

Combustion efficiency after turn up ( $n_{furnance,now}$ ) = 0.8

Operation Hour (t) = 5200h

Unit cost (c) = $\frac{23 dollar}{10^{6}Btu }$

Calculate heat output from the boiler $Q_{out}$ = $Q_{in}$ x $n_{furnance}$

= 5.5 x $10^{6}$ x 0.7

= 3.85 x $10^{6}$ Btu/h

Calculate the heat input to the boiler after the tune-up

$(Q_{in} ){new}$ = $Q_{out}$ / $(n_{furnance} ){new}$

= 3.85 x $10^{6}$ / 0.8

= 4.8125 x $10^{6}$ Btu/h

Calculate the saved energy after the tune-up

$(Q_{in} ){saved}$ = $Q_{in}$ - $(Q_{in} ){new}$

= 5.5 x $10^{6}$ - 4.8125 x $10^{6}$ Btu/h

= 0.6875 x $10^{6}$ Btu/h

Calculate the annual energy saving ( $E_{Saving}$ )

$E_{Saving}$ = $(Q_{in} ){saved}$ x t

= ( 0.6875 x $10^{6}$ Btu/h ) ( 5200 hr/yr)

= 3575 x $10^{6}$ Btu/h

Calculate the annual cost saving

Annual cost saving = $E_{Annual saving}$ x Unit cost

= 3575 x $10^{6}$ Btu/h x $\frac{23 dollar}{10^{6}Btu }$

= 82225

4 0

2 years ago

price quantity total cost $10 40 $374 $10 41 $376 $10 42 $360 $10 43 $365 $10 44 $390 $10 45 $400 $10 46 $412 $10 47 $425 refer

MrRa [10]

The firm's MRP when it produces 44 units of output (from top to bottom) MRP, Regulated: 200, 160, 120, 80, 40.

<h3>What is output?</h3>

Output is the quantity of goods or services produced in a given period of time.
For a firm that produces a good, the output may simply be the number of units of that good produced each period.
Months or Years in production.
Input is the process of taking in something.
For example, a company receives inputs when it takes raw materials to make a final product.
Output is the complete opposite as it is the process of sending something.
Service is the productive outcome of marketing channels that consumers value and desire.
By identifying the services to offer for each target buyer segment, marketers can optimize their sales strategy for each key segment.

To learn more about output from the given link :

brainly.com/question/13736104

#SPJ4

6 0

10 months ago

What is a credit union?

KIM [24]

D.) A cooperative lending institution for a particular group.

Typically, you must be a member to participate in a credit union.

4 0

3 years ago

Read 2 more answers

1. What is the difference between structural and cyclical unemployment? In this context, what is the difference between Europe a

Elis [28]

Structural Unemployment is one that is permanent or long lived and Cyclical Unemployment does not have enough demand in the economy.

Explanation:

Structural unemployment results with a permanent dislocations within markets and a mismatch between skills in growing company needs. When the overall goods and service in an economy cannot support full employment that results with Cyclical unemployment.

The difference between Europe and US is, US has 50 states under one country whereas Europe is a union between countries.

Krugman uses the tax savings to buy their own stock, The evidence is overwhelming.

7 0

3 years ago