HW 1 - Solutions

HW 1 - Solutions - S2 Avg Cost =1.77; Marg Cost = .1 2 8 a)...

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Homework 1 1 – 2 a) yes b) yes c) probably not d) no e) no 1 – 59 Q = 775 units 1 – 62 a) maximize net profit --- occurs at output = 150 units/hr b) minimum input = 0 maximum output = 250 statement doesn’t make sense 2 – 5 a) 1.0 b) 5.0 c) 0.9 d) 0.1 e) 5000 f) x<5000 g) x>5000 h) S1 Avg Cost =1.23; Marg Cost = .9
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Unformatted text preview: S2 Avg Cost =1.77; Marg Cost = .1 2 8 a) 200x b) 100,000 + 100x c) 1,000 units d) 50,000 profit e) marg cost = 100/unit; avg cost = 167/unit 2 14 a) TR = 250D -.25D 2 TC = 20D + 10,875 b) D = 50 and 870 c) 41,625 d) 42,025 2 15 b) S = 13 and 77 c) S = 45...
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