# Ts is my math homework, and I was able to answer the first question but I’m stuck, and my group members

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What quantity maximizes profit? Round your answer to two digits after the decimal. hundred bags g.) Recall that shutdown price is the smallest value of average variable cost and compute the shutdown price. Give three digits after the decimal. dollars per bag hundreds of dollars |

Ts is my math homework, and I was able to answer the first question but I’m stuck, and my group members are no help either. My homework is due at 5 help me! Transcribed Image Text: A farmer produces potatoes. The following are formulas for the farmer’s variable cost (in hundreds of dollars) and marginal cost (in dollars per bag) for producing q hundred bags of potatoes.

VC(q)=9-q²+q_and MC(q)=-

3

3

7+1.

30

10

10

a.) Use the formulas for VC(q) and MC(q) to compute variable cost and marginal cost at 300 bags of potatoes.

variable cost: 1.2

hundred dollars

marginal cost: .10

dollars per bag

b.) Fixed costs are 80 dollars (0.80 hundred dollars). Compute total cost, average cost, and average variable cost at 300 bags of potatoes. Round your answers to two digits after the decimal, if necessary.

total cost: 2

hundred dollars

x dollars per bag

average cost: 2

average variable cost: 1.2

x dollars per bag

c.) Write out formulas for total cost (in hundreds of dollars), average cost (in dollars per bag), and average variable cost (in dollars per bag) to produce q hundred bags of potatoes.

TC(q)= 1.2(q) +.80

1.2(g)

(9)

AC(q)=

1.2(q)

AVC(q)=

d.) For what range of quantities is average variable cost at most $0.55 per bag? Round your answers to two digits after the decimal.

from q=

to

hundred bags

e.) Potatoes sell for $0.75 per bag. Ts means that total revenue, in hundreds of dollars, is given by TR(q)=0.75q. Here are the graphs of variable cost and total revenue.

TR

VC

quantity (hundreds of bags)

For what range of quantities is variable cost less than or equal to total revenue (other than at q=0)? Round your answers to two digits after the decimal.

from q=

to

hundred bags

f.) Recall that profit is maximized at a quantity where marginal cost is equal to marginal revenue. What quantity maximizes profit? Round your answer to two digits after the decimal.

hundred bags

g.) Recall that shutdown price is the smallest value of average variable cost and compute the shutdown price. Give three digits after the decimal.

dollars per bag

hundreds of dollars

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