1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zzz [600]
3 years ago
10

Assume that the market is perfectly competitive. If the cost function for John's Shoe Repair is �(�) = 100 + 10� − �) + 3 4 �4,

what is the firm's marginal cost function? What is its profit-maximizing condition if the market price is p? What is its short-run supply curve?
Business
1 answer:
kirill [66]3 years ago
5 0

Answer:

Explanation:

C(q) = 100+10q-q^2+(1/3)q^3

To find the firm marginal cost function:

Take the derivative with respect to q

MC = 10 - 2q + q^2

Assuming that the market price is p , then the profit maximising condition is:

MR = MC

p = 10 - 2q + q^2

The short-run supply curve is the marginal cost curve that lies above the average variable cost.

The average variable cost is:

AVC =VC/Q

AVC = (10q-q^2+(1/3)q^3)/Q

AVC = 10 - q + (1/3)*q^2

So, the short-run supply curve is:

SRS = 10 - 2q + q^2 if p > 10 - q + (1/3)*q^2

You might be interested in
What is the main function of the Federal Open Market Committee?
Vsevolod [243]
To conduct monetary policy, it's open market operations. Buying and selling of federal government bonds to influence the money supply in the rate of interest. These operations are responsibility of Federal Open Market Committee. Ask google for more friend, hope I helped!
8 0
2 years ago
Read 2 more answers
Comfort Corners Home Furnishings uses labor and machinery to transform wood, plastic, metal, and cloth into comfortable chairs,
Alinara [238K]

Answer:

Form Utility.

Explanation:

This is the process of designing a product to target a specific client's needs or wants. Customers' desires are incorporated into the features and benefits the products offer to customers. As in the above company. Various designs of furniture have been designed to appeal to customers needs and wants in home furnishing.furnishings.

3 0
3 years ago
Read 2 more answers
Aperture and shutter speed are separate entities that do not affect each other in any way.
vagabundo [1.1K]
False

Aperture and shutter speed are not separate entities
3 0
3 years ago
Read 2 more answers
A local restaurant has promised to provide a combination of hamburger meal and hot dog meal at a local fundraiser. They have pro
Bezzdna [24]

Answer:

Minimize Z = 3x + 2y

Explanation:

Let x represent hamburger meal and let y represent hot dog meal. The objective is to minimize the total cost. The objective function will be

Z = 3x + 2y

The maximum capacity of restaurant is 200 meals while it has minimum cap for 100 meals.

6 0
2 years ago
gAlex has been the highest performer within his department for the last five years. Vera, the Head of the Division in which Alex
kipiarov [429]

Complete question:

Alex has been the highest performer within his department for the last five years. Vera, the Head of the Division in which Alex works, has decided to promote Alex to reward him for his hard work and dedication to the firm. Vera believes that his technical proficiency will inspire the rest of the team to work harder and become more accurate.

Is Vera's reasoning sound? Does Alex's technical proficiency help to ensure his success as a manager?

a. Yes, Alex's high expectations will make him a better manager.

b. No, human relations skills are just as important as technical expertise.

c. Yes, technical proficiency is the key to managerial success.

d. Yes, technical proficiency in a manager is inspirational to teams.

Answer:

(B) No, human relations skills are just as important as technical expertise.

<h3>What is technical expertise?</h3>
  • Technical skills are the particular knowledge and competence required in real-world circumstances to complete certain jobs and use specific equipment and programs.
  • From information technology and corporate administration to health care and education, diverse technical abilities are necessary for almost every sector and industry.
  • Technical skills are the particular knowledge and competence required in real-world circumstances to complete certain jobs and use specific equipment and programs.
  • From information technology and corporate administration to health care and education, diverse technical abilities are necessary for almost every sector and industry.
<h3>What are relations skills?</h3>
  • This includes communicating openly, actively listening, cooperating, refusing improper social pressure, constructively negotiating disagreement, and seeking and offering assistance when needed.
  • Relationship skills are essential for personal and professional success.
  • Trust, respect, self-awareness, inclusiveness, and open communication are all required for a healthy professional relationship.
  • Let's take a closer look at each of these traits.
  • You can be open and honest in your ideas and actions when you trust your team members.

So, in this instance, Vera is attempting to argue that interpersonal skills are just as vital as technical skills.

Therefore, the correct option is (B) No, human relations skills are just as important as technical expertise.

Know more about technical skills here:

brainly.com/question/26895031

#SPJ4

5 0
2 years ago
Other questions:
  • Exercise C The marketing department of Specialty Coffees estimates the following monthly demand for espresso in these four price
    10·1 answer
  • What percentage of the loan does PMI insure to protect the lender in case the borrower defaults on the loan?
    14·1 answer
  • Firm X is considering the replacement of an old machine with one that has a purchase price of $70,000. The current market value
    6·1 answer
  • Kelly, Lars, and Mona agree to be partners in Neighborhood Delivery Service (NDS), splitting the profits equally. Kelly contribu
    7·1 answer
  • Many people have argued that the skills needed to be successful in today's workforce have changed. What skills do you feel an in
    10·1 answer
  • Consumers should be concerned about high interest rates because high interest rates __________.
    15·1 answer
  • Supply-side policy is designed to a. Move the economy from a point inside the production possibilities curve to a point on the c
    8·1 answer
  • Market failure associated with the free-rider problem is a result of.
    14·1 answer
  • Assembling project team and assigning their responsibilities are done during which phase of a project management?.
    12·1 answer
  • Social security pays $0. 90/dollar for your first $826 in earnings, $0. 32/dollar for the next $4154 in earnings, and only $0. 1
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!