Advertisements
Advertisements
Question
Average cost is minimum when:
Options
Marginal cost = marginal revenue
Average cost = marginal cost
Average cost = Marginal revenue
Average Revenue = Marginal cost
Advertisements
Solution
Average cost = marginal cost
APPEARS IN
RELATED QUESTIONS
The total cost of x units of output of a firm is given by C = `2/3x + 35/2`. Find the
- cost when output is 4 units
- average cost when output is 10 units
- marginal cost when output is 3 units
Show that MR = p`[1 - 1/eta_"d"]` for the demand function p = 400 – 2x – 3x2 where p is unit price and x is quantity demand.
The demand function of a commodity is p = `200 - x/100` and its cost is C = 40x + 120 where p is a unit price in rupees and x is the number of units produced and sold. Determine
- profit function
- average profit at an output of 10 units
- marginal profit at an output of 10 units and
- marginal average profit at an output of 10 units.
Find out the indicated elasticity for the following function:
p = xex, x > 0; ηs
Find out the indicated elasticity for the following function:
p = `10 e^(- x/3)`, x > 0; ηs
For the demand function p x = 100 - 6x2, find the marginal revenue and also show that MR = p`[1 - 1/eta_"d"]`
If the demand function is said to be inelastic, then:
The elasticity of demand for the demand function x = `1/"p"` is:
Profit P(x) is maximum when
A company begins to earn profit at:
