A firm with two plants, A and B, has the following estimated demand and marginal cost functions:Qd = 120 - 10PMCA = 4 + (1 / 5)QAMCB = 6 + (1 / 10)QBWhat is the firm's total marginal cost function?
A. MC = 2 + (1/10)Q
B. MC = (80/15) + (1/15)Q
C. MC = 24 + (1/50)Q
D. MC = 10 + (3/15)Q
Answer: B
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George makes $250 a week working as a student aid. When he cashes his check he takes $100 to the cashiers office to pay part of his tuition. $25 goes to paying off his books, $75 goes for entertainment and $50 he keeps for unexpected expenditures
Which of the following statements is TRUE? A) The transactions demand for money is $125, the precautionary demand is $75 and the asset demand is $50. B) The transactions demand for money is $0, the precautionary demand is $250 and the asset demand is $0. C) The transactions demand for money is $200, the precautionary demand is $50 and the asset demand is $0. D) The transactions demand for money is $250, the precautionary demand is $0 and the asset demand is $0.
A third party is:
a. the party to which a contractual agreement is meant to benefit. b. a person, or persons, who are unintentionally affected by a market transaction. c. the third person in a three-way contract. d. the person who owns the property right in a contract. e. when the government attempts to mediate a dispute between management and labor.
A bank can actually create money by
a. lending its required reserves. b. ordering newly printed money from the Fed. c. lending its excess reserves. d. None of these.
Productive efficiency refers to:
A. maximizing profits by producing where MR = MC. B. production, where P = MC. C. setting TR = TC. D. cost minimization, where P = minimum ATC.