A+ Answers of the following Questions

Assume Caspian is a firm operating in a competitive market. The estimated its average variable cost function is shown below: AVC = A + BQ + CQ2

The total fixed cost (TFC) = $1,000.
Dependent VARIABLE AVC R-SQUARE F-RATIO P-VALUE ON F
OBSERVATIONS 35 0.8713 108.3 0.0001
VARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE
INTERCEPT 43.4 13.8 3.14 0.0036
Q -2.8 0.9 -3.11 0.0039
Q2 0.2 0.05 4 0.0004

a. Are the estimated coefficients statistically significant at the 5% level of significance? 
b. Find the total cost function.
c. Find the equation for the ATC. Is it U-shaped? A simple yes/no is not enough. Use math.
d. Find the shut-down price.
e. How much will the firm produce at the market price of $53.4

Suppose you are given the following production function Q = K1/3 L1/3. Given that the firm wishes to produce 100 units of output, what input combination should it choose to minimize its total cost given that w = r = $10? What is the total cost of producing 100 units of output?

Rent-A-Car, Inc., provides daily auto rental services to individuals while their own cars are being repaired. Annual sales revenue has grown rapidly from $2.5 million to $10 million during the past 5-year period. Calculate the five-year growth rate in sales using the constant growth model with annual compounding

Suppose the short-run production function for a particular product is represented by:

Q = 60,000L2 – 1,000L3

a. Find the marginal product and show mathematically that labor is subject to diminishing returns.
b. Beyond what labor usage, the marginal product becomes negative c.
c. Show mathematically that when the average product is at maximum, marginal product is equal to it?

1. Assume a company sells a given product for $75 per unit. How many units must be sold to break-even if variable selling costs are $12 per unit, variable production costs are $23 per unit, and total fixed costs are $700,000?2. A company's product sells at $34 per unit and has a $15 per unit variable cost. The company's total fixed costs are $220,400.
The break-even point in units is:3. A product sells for $30 per unit and has variable costs of $18 per unit. The fixed costs are $720,000. If the variable costs per unit were to decrease to $15 per unit and fixed costs increase to $900,000, and the selling price does not change, break-even point in units would