Suppose you are the manager of a small chemical company operating in a competitive market. Your cost of production can be expressed as C = 100 + Q2, where Q is the level of output and C is total cost.

a. Is this a short-run cost function?
b. What is the marginal cost function?
c. What is the level of total fixed cost?
d. If the price of chemicals is $60, what quantity of chemicals should be produced to maximize profit?
e. What will be the level of profits?

1 answer

Take a shot, what do you think?

query. By Q2, do you really mean Q^2?
Similar Questions
  1. I did mean QSuppose you are the manager of a small chemical company operating in a competitive market. Your cost of production
    1. answers icon 2 answers
    1. answers icon 3 answers
    1. answers icon 1 answer
  2. I need help with these questions1. The structure of the market in which JetBlue operates (i.e. how competitive is
    1. answers icon 5 answers
more similar questions