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    Allen Ni
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    The following inverse demand and total cost relationships exist for all terrain vehicles(ATVs) a. Determine the quantity (Q) that minimizes average cost (AC) b. Calculate price(P), total revenue(R), total cost(C), average cost(AC) and profit(p) at the optimum. Identify which strategy is optimal long-term and which are considered to be optimal short-term.

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    The following inverse demand and total cost relationships exist for all terrain vehicles(ATVs) a. Determine the quantity (Q) that minimizes average cost (AC) b. Calculate price(P), total revenue(R), total cost(C), average cost(AC) and profit(p) at the optimum. Identify which strategy is optimal long-term and which are considered to be optimal short-term.

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    11 views1 page

    Q1

    Uploaded by

    Allen Ni
    The following inverse demand and total cost relationships exist for all terrain vehicles(ATVs) a. Determine the quantity (Q) that minimizes average cost (AC) b. Calculate price(P), total revenue(R), total cost(C), average cost(AC) and profit(p) at the optimum. Identify which strategy is optimal long-term and which are considered to be optimal short-term.

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    © All Rights Reserved
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    NameHauChen Ni Student ID:@02716569

    The following inverse demand and total cost relationships exist for all terrain
    vehicles(ATVs).
    P=10,000-8Q
    C=20,000+1500Q+0.5Q
    2
    a. Determine the quantity (Q) that minimizes average cost (AC)
    b. Calculate price(P), total revenue(R), total cost(C), average cost(AC) and
    profit() at the optimum.
    c. In general firms pursue three strategies. List these three strategies and briefly
    describe when a firm would pursue each. In addition, identify which strategy
    is optimal long-term and which are considered to be optimal shrot-term.

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