For each of the following cost-output relationships, describe the shape (U-shape, decreasing, increasing, constant) of the average total cost and marginal cost functions

Which of the following cost relationships is not true?
a. AFC = AC - MC
b. TVC = TC - TFC
c. the change in TVC/the change in Q = MC
d. the change in TC/ the change in Q = MC

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38. An economist estimated that the cost function of a single-product firm is:
C(Q) = 60 + 30Q + 25Q2 + 5Q3.
Based on this information, determine the following:
a. The fixed cost of producing 10 units of output.
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b. The variable cost of producing 10

1) Discuss on relationships between production and cost, highlighting the equivalence between diminishing marginal productivity and increasing marginal costs. Given a table of data representing a short-run production function (levels of the variable input and the associated total product), compute marginal and average products a

1.
An economist estimated that he cost function of single-prodcut firm is
C(Q) = 100 + 20Q + 15Q2 + 10Q3
Based on this information, determine:
a. The fixed cost of producing 10 units of output
b. The variable cost of producing 10 units of output
c. The total cost of producing 10 units of output
d. The average fixed cos

Your consulting firm was just granted an exclusive contract for your state. You now must decide your pricing policy, given the following relationships:
P = $1400 - 0.0004Q
MR = $1400 - 0.0008Q
AVC = $1000
where P is the price, Q the quantity, and AVC the average variable cost.
The firm will encounter no fixed cost

Problems
1- Given the following total-revenue function:
TR=9Q-Q²
(a) Derive the total-, average-, and marginal-revenue schedules from Q = 0 to Q = 6 by 1' s.
(b) On the same set of axes, plot the total-,average-,and marginal-revenue schedules of part (a)
2- Given the follow total-cost schedule:
Q 0 1 2 3 4
TC

John is considering opening a shop to make desks. He estimates the cost information for the first-through-the-ninth desk (nine is his estimated maximum monthly output).
The first desk costs $520 to produce, including $380 in overhead expenses.
The price of the desk has been set at $199.
The additional desk have the fol

A firm has two plants with the following marginal cost functions: MC1 = 20 +2Q1, MC2 = 10 +5Q2
Where MC1 is marginal cost in the first plant, MC2 is marginal cost in the second plant, Q1 is output in the first plant and Q2 is output in the second plant.
a.If the firm is minimizing its cost and if it is producing 5 units of o