题目
题目

ECON&201 15109 Applied Economics: Cost Curve Modeling

单项选择题

Production efficiency is attained where a firm is maximizing output and minimizing input. This takes place visually at the ATC minimum. According to the Average Cost model, production efficiency is attained at an approximate quantity of: 

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思路分析
The question asks about production efficiency in the Average Cost (AC) framework and states that this occurs at the point where a firm is maximizing output while minimizing input, which corresponds to the minimum point of the average total cost (ATC) curve. It then asks for the approximate quantity at which production efficiency is attained. First, note the foundational concept: productive (or production) efficiency in this context means producing at the lowest po......Login to view full explanation

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类似问题

Consider a producer that produces a high-quality commodity, which costs 20$ per unit, and a low-quality commodity, which costs 10$ per unit. Given that the consumers do not distinguish between the high-quality and the low-quality commodities, the market price for this commodity is 16$. In order to stay competitive with the other producers, what must be the ratio of the high-quality commodities to all the produced commodities?

Part 1A firm has two plants that produce identical output. The cost functions areUpper C 1 equals 399 q minus 12 q squared plus 0.5 q cubedC1=399q−12q2+0.5q3 and Upper C 2 equals 399 q minus 16 q squared plus 1.0 q cubedC2=399q−16q2+1.0q3.Part 2​First, note that if AC 1AC1equals=399399minus−1212qplus+0.50.5q squaredq2​, then StartFraction dAC 1 Over dq EndFraction equals negative 12 plus 2 left parenthesis 0.5 right parenthesis qdAC1dq=−12+2(0.5)q. ​Similarly, if AC 2AC2equals=399399minus−1616qplus+1.01.0q squaredq2​, then StartFraction dAC 2 Over dq EndFraction equals negative 16 plus 2 left parenthesis 1.0 right parenthesis qdAC2dq=−16+2(1.0)q.Part 3At what output level does the average cost curve of each plant reach its​ minimum?Part 4The first plant reaches minimum average cost at [input]1212 units of output. ​(Enter a numeric response using an​ integer.)Part 5The second plant reaches minimum average cost at [input]enter your response here units of output. ​(Enter a numeric response using an​ integer.)

Question at position 10 A manufacturer’s total-cost function is given by c(q)=q24+3q+400c(q)=\frac{q^2}{4}+3q+400 where c(q) is the total cost of producing q units. At what level of output will average cost per unit be a minimum?23340-40

Refer to Table 1 below: Table 1: Production Costs of the Firm A [table] Quantity of output per hour | Total Fixed Costs per hour($) | Total Variable Costs per hour ($) | Marginal Cost per hour of the…. ($) | Average Cost per hour ($) 0 | 250 | 0 | N/A | N/A 1 | 250 | 25 | 1st item = 25 | 275 2 | 250 | 43 | 2nd item = 18 | 146.50 3 | 250 | 58 | 3rd item = 15 | 102.67 4 | 250 | 75 | 4th item = 17 | 81.25 5 | 250 | 95 | 5th item = 20 | 6 | 250 | 126 | 6th item = | 62.67 [/table] What is the average cost of 5 items?

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