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solve this problem..
Started Sep 15
production theory
Replied Aug 9
production theory
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Started this discussion. Last reply by A. Ugur Sonmez Sep 1.
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a. Assume that the market price is established by the following equations:
Supply Curve: P = 10 - 2Q + 0.15Q2
Demand Curve: P = 14.6 - 0.8Q
Where P is price and Q is Quantity of output of a particular commodity.
Assume also that a particular firm...
a. Assume that the market price is established by the following equations:
Supply Curve: P = 10 - 2Q + 0.15Q2
Demand Curve: P = 14.6 - 0.8Q
Where P is price and Q is Quantity of output of a particular commodity.
Assume also that a particular firm...
SECTION C– SHORT ESSAY – 33 MARKS
1) When MC exeeds, share of AVC in TC increases.Because, AVC=TVC\Q. So, AVC is being pulled up
and AC is being pulled up because AC=TC\Q and if MC exceed TC exceed, too.
2)It's so long time necesarity to explain b...
Production theory consist of alot of concepts that should be explained like production, production fuction, classical production function, law of varaiable propotions, theory of firm behaviours, isocost line and upto so on. ABout what u need infor...
They don´t look so hard...but there are a lot...any section in particular?
Raul
i'm taking principle of economics...
i've a problems in answer that tutorial..
Those problems are way to advance for me. What class are they from?
University of St Andrews Economists/Students
help me solved this question...
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a. Assume that the market price is established by the following equations: Supply Curve: P = 10 - 2Q…
a. Assume that the market price is established by the following equations:
Supply Curve: P = 10 - 2Q + 0.15Q2
Demand Curve: P = 14.6 - 0.8Q
Where P is price and Q is Quantity of output of a particular commodity.
Assume also that a particular firm is operating under perfect competition and that its cost and revenue functions are:
TC = 10Q – Q2 + 0.05Q3
TR = PQ
Where TC is total cost, TR is total revenue and P is price.
i. Find the market price for this commodity in question.
ii. Draw the tota… Continue
Supply Curve: P = 10 - 2Q + 0.15Q2
Demand Curve: P = 14.6 - 0.8Q
Where P is price and Q is Quantity of output of a particular commodity.
Assume also that a particular firm is operating under perfect competition and that its cost and revenue functions are:
TC = 10Q – Q2 + 0.05Q3
TR = PQ
Where TC is total cost, TR is total revenue and P is price.
i. Find the market price for this commodity in question.
ii. Draw the tota… Continue
Posted on September 9, 2009 at 4:26am —
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