This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose a farmer is a price taker in soybeans with cost functions given by TC = .1q2 + 2q + 30 MC = ... (Read 83 times)

Lobcity

  • Hero Member
  • *****
  • Posts: 524
on: Jul 1, 2018
Suppose a farmer is a price taker in soybeans with cost functions given by TC = .1q2 + 2q + 30 MC = .2q + 2 Suppose the farmer has to purchase a license for 50 per period in order to stay in business. In this case, its new total cost function is
 a. still TC = .1q2 + 2
  b. TC = .1q2 + .2q + 80
  c. TC = .1q2 + 2q + 50
  d. TC = 50

Question 2

Suppose a farmer is a price taker in soybeans with cost functions given by TC = .1q2 + 2q + 100 MC = .2q + 2 Suppose the farmer has to purchase a license for 50 per period in order to stay in business. In this case, its marginal cost function is
 a. still MC = .2q + 2
  b. MC = .2q + 50
  c. MC = .2q + 52
  d. MC = 50


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yuyiding

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

a


Lobcity

  • Member
  • Posts: 524
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

kusterl

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Brain Anatomy and Functions Brain Anatomy and Functions
Protein, Ligand and their Functions Protein, Ligand and their Functions
How to evaluate composite functions (f∘g∘h) (Part 3) How to evaluate composite functions (f∘g∘h) (Part 3)
How to integrate trigonometric functions containing sine and cosine with odd powers (Part 1) How to integrate trigonometric functions containing sine and cosine with odd powers (Part 1)
How reciprocal functions compare to the parent function How reciprocal functions compare to the parent function
Functions applications Functions applications
Video: Methods that regulate pH

For a complete list of videos, visit our video library