1. The demand for a firm’s product is Q(P)=10- p. The firm’s cost production is C(Q)=73Q – 20Q^2 +2Q^3 (a) For what value of Q does the cost function exhibit economies or diseconomies of scale? (b)admin / August 17, 2018
1. The demand for a firm’s product is Q(P)=10-p. The firm’s cost production is C(Q)=73Q – 20Q^2 +2Q^3 (a) For what value of Q does the cost function
1. The demand for a firm’s product is Q(P)=10-√p. The firm’s cost production is C(Q)=73Q – 20Q^2 +2Q^3
(a) For what value of Q does the cost function exhibit economies or diseconomies of scale?
(b) Compute MC’ and MR’, the derivatives of the MC and MR functions. Is the global second order condition useful for solve this firm’s profit-maximization problem.
(c) Compute the Firm’s profit- Maximizing price and quantity.
2.The FOC(first order condition) and local SOC(second order condition) for the firms optimization problem can be used to prove the Law of Supply, meaning exactly: if the firm supplies a a positive quantity at the current market price, then at a higher price it will supply a larger quantity. Without doing any additional mathematics, show that a violation of the Law of Supply would imply a contradiction of the local SOC. You can assume that the firm’s marginal cost function is differentiable.Being in the business for a long time meeting the requirements of students from all over the world has helped us become the best essay writing services provider. Unlike other cheap custom essays services, we never compromise the quality of the service though we provide affordable and cheap custom essays without missing the deadlines provided by the students. One of the most commented factors of our term paper writing services is our ability to provide best dissertation writing services that match the academic requirements and status of the student. This has helped us provide most realistic writing services to our UK , USA, Canada, Asia, Europe, and Africa students making them very likely to get highest grades in their tests and examinations. Certainly we can say that it our conscious efforts to provide our students with research paper writing services that are well beyond the mediocre services that many so called essay writing services offer to them. We have always believed in helping students achieve their dreams and we have ever since toiled hard to make sure that each of our client is able to achieve their career goals with the support of our essays and theses.