Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
Suppose that Laylita sells empanadas at a perfectly competitive farmers’ market and that her total cost of producing empanadas is T C(q) = 40 + 0.1q 2 − 1 5 q where q is the total number of empanadas that she produces. Given this total cost function, her marginal costs of production are .2q − 1 5 .
(a) What is the average total cost of producing empanadas as a function of the quantity of empanadas produced?
(b) At what quantity, q ∗ , is the average total cost of producing an empanada minimized? What is the value of the average total cost at q ∗ ? (1/2 point)
(c) The price of an empanada is $4.20. What quantity of empanadas should Laylita produce to maximize her profit? If she remains open, what is her economic profit or loss? (1/2 point)
(d) Suppose that the price of an empanada falls to $3.00. What quantity of empanadas should Laylita produce to maximize her profit at this new price? If she remains open, what is her new profit or loss? (1/2 point)
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more