MBA math economics Questions With All Correct
Answers
Suppose that you can sell as much of a product (in integer units) as you like at
$60 per unit. Your marginal cost (MC) for producing the qth unit is given by:
MC=7q
This means that each unit costs more to produce than the previous one (e.g.,
the first unit costs 7*1, the second unit (by itself) costs 7*2, etc.).
If fixed costs are $100, what is the profit at the optimal integer output level?
correct answer -MA 1 (2)
Assume that a competitive firm has the total cost function:
TC=1q3−40q2+810q+1500
Suppose the price of the firm's output (sold in integer units) is $700 per unit.
Using tables (but not calculus) to find a solution, what is the total profit at the
optimal output level? correct answer -MA 1 (3)
Suppose that you can sell as much of a product (in integer units) as you like at
$43 per unit. Your marginal cost (MC) for producing the qth unit is given by:
MC=8q
This means that each unit costs more to produce than the previous one (e.g.,
the first unit costs 8*1, the second unit (by itself) costs 8*2, etc.).
If fixed costs are $350, what is the optimal integer output level? correct
answer -MA 1 (2)
Assume that a competitive firm has the total cost function:
TC=1q3−40q2+890q+1800
Suppose the price of the firm's output (sold in integer units) is $600 per unit.
Using tables (but not calculus) to find a solution, what is the total profit at the
optimal output level? correct answer -MA 1 (3)
Answers
Suppose that you can sell as much of a product (in integer units) as you like at
$60 per unit. Your marginal cost (MC) for producing the qth unit is given by:
MC=7q
This means that each unit costs more to produce than the previous one (e.g.,
the first unit costs 7*1, the second unit (by itself) costs 7*2, etc.).
If fixed costs are $100, what is the profit at the optimal integer output level?
correct answer -MA 1 (2)
Assume that a competitive firm has the total cost function:
TC=1q3−40q2+810q+1500
Suppose the price of the firm's output (sold in integer units) is $700 per unit.
Using tables (but not calculus) to find a solution, what is the total profit at the
optimal output level? correct answer -MA 1 (3)
Suppose that you can sell as much of a product (in integer units) as you like at
$43 per unit. Your marginal cost (MC) for producing the qth unit is given by:
MC=8q
This means that each unit costs more to produce than the previous one (e.g.,
the first unit costs 8*1, the second unit (by itself) costs 8*2, etc.).
If fixed costs are $350, what is the optimal integer output level? correct
answer -MA 1 (2)
Assume that a competitive firm has the total cost function:
TC=1q3−40q2+890q+1800
Suppose the price of the firm's output (sold in integer units) is $600 per unit.
Using tables (but not calculus) to find a solution, what is the total profit at the
optimal output level? correct answer -MA 1 (3)
