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MAXImum [283]
3 years ago
15

Consider a perfectly competitive market in which each​ firm's short-run total cost function is C​ = 25 ​+ 6q ​+ q2​, where q is

the number of units of output produced. The associated marginal cost curve is MC​ = 6 ​+ 2q. In the short run each firm is willing to supply a positive amount of output at any price above ​$ nothing.
Business
1 answer:
AfilCa [17]3 years ago
5 0

Answer:

$6

Explanation:

A firm will supply goods in the market as long as its Marginal costs are above the minimum of AVC curve (shut down point)

Here,

VC=6q+q^{2}

AVC = VC ÷ q

        = 6 + q

Also, MC = 6 + 2q.

So,

This means that for any output value of Q, MC is more than AVC .

This will tell us that as long as the output is positive and the price is positive the firm will supply in the market.

This means that the firm produces in the short run as long as price is positive.

To find minimum of AVC

AVC = MC

6 + q = 6 + 2q

or

q = 0

Now AVC at q=0

6 + 0 = 6

then any output will be supplied for more than or equal to $6

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Jobisdone [24]

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The five steps of the ADAPT questioning sequence should be identified and described. The five steps that make up this effective questioning sequence are assessment questions, discovery questions, activation questions, projection questions, and transition questions. These processes correspond to the acronym ADAPT.

<h3>What exactly are assessment questions?</h3>
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6 0
2 years ago
One of the questions in the Pew Internet &amp; American Life Project asked adults if they used the Internet at least occasionall
g100num [7]

Answer:

Explanation:

S/N   Age range       Adult Population       Population Internet Users

A       18   -    29                 478                                 454

B       30   -    49                833                                 741

C       50 and above         1644                                1058

             Total                     2955                               2253

a) Let E = Estimate proportion and A = Internet users

Hence, n(E) = 478 and n(A) = 454

∴ Probability of Internet users (18 - 29), P(A) = n(A)/n(E) = 454/478 = 0.9498 (94.98%)

b) n(E) = 833 and n(B) = 741

∴ Probability of Internet users (30 - 49), P(B) = n(A)/n(E) = 741/833 = 0.8896 (88.96%)

c) n(E) = 1644 and n(C) = 1058

∴ Probability of Internet users (50 and above), P(C) = n(C)/n(E) = 1058/1644 = 0.6436 (64.36%)

d) Let Et = Total estimate proportion

Hence, n(Et) = 2955 and n(A) = 454

∴ Probability of 18 - 29 age range using Internet overall Pt(A) = n(A)/n(Et) = 454/2955 = 0.1536 (15.36%)

4 0
4 years ago
Haverty's Furniture bought a deluxe mattress for $530. The initial price on the mattress was $1100, but it was sold for $950. Wh
Andrews [41]

Answer:

51.8% and 44.21%

Explanation:

The computation is shown below:

Initial markup = (Original price - initial price) ÷ (Original price)

= ($1,100 - $530) ÷ ($1,100)

= $570 ÷ $1,100

= 51.8%

And, the maintained markup is

= (Sale price - cost price) ÷ (Sale price)

= ($950 - $530) ÷ ($950)

= $420 ÷ $950

= 44.21%

The markup always expressed in percentage forms

3 0
3 years ago
What is not a potential risk of purchasing a used car?a) used cars can require repairs soonerb) warranties can be very limitedc)
Oksi-84 [34.3K]

used cars can require repairs sooner warranties can be very limited used cars can have lower initial cost unexpected issues may arise

hope this helps <3

4 0
3 years ago
The market price of cheeseburgers in a college town increased recently, and the students in an economics class are debating the
Artemon [7]

Answer: B) If the equilibrium quantity of cheeseburgers increases, then the demand shift in the market for cheeseburgers must have been larger than the supply shift.

Explanation:

1. An increase in the price of cheeseburgers is due to the fact that several burger joints in the area have recently gone out of business. This will shift the supply curve for cheeseburgers to the left, driving up the price of cheeseburgers and reducing the quantity.

2. An increase in the price of Calzones at local pizza parlors lead to an increase in the demand for Cheese burgers as cheese burgers and calzones are substitutes to each other. So, when price of calzones rise, consumers shift demand to cheeseburgers. This will lead to a rightward shift in the demand for cheese burgers as a result the price and quantity of cheese burgers increase.

3. A decrease in supply due to burger joints going out of business shift the supply curve to the left. Increase in the price of calzones increase demand for burgers shifts the demand curve to the right. Both these will increase the price of cheeseburgers but the effect on quantity cannot be determine as depends on the magnitude of the shift in the two curves.

If demand shifts more than supply, equilibrium quantity increases. If supply shifts more than demand, equilibrium quantity decreases.

Thus, B is correct.

3 0
3 years ago
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