Suppose a farmer is a price taker (MR = P = 6) in soybeans with cost functions given byTC = .1q2 + 2q + 100MC = .2q + 2The firm's supply curve is given by

Suppose a farmer is a price taker (MR = P = 6) in soybeans with cost functions given byTC = .1q2 + 2q + 30MC = .2q + 2The level of profits isQuestion 4Select one:a.30.b.-10.c.20.d.10.

The market for wheat consists of 500 identical firms, each with the totalcost function C(Q) = 90, 000 + 0.00001Q2 where Q is measured in bushels per year. Themarket demand curve for wheat is Q = 90, 000, 000 − 20, 000, 000P , where Q is againmeasured in bushels and P is the price per bushel. The market is perfectly competitive.(a) Obtain the average and marginal cost functions of each firm. Obtain the total cost,average cost and marginal cost when the production of a firm is Q0 = 100, 000.

Suppose there are 100 firms each with a short run total cost of STC = q2 + q + 10, so that marginal cost is MC = 2q +1. The supply curve for each firm isQuestion 4Select one:a.P = q + 1b.P = q + 1 + 10/qc.P = q2 + q + 10d.P = 2q + 1

The demand function Q and cost function C(Q) of a commodity are given by the equations \[Q=20-0.01P,\] and C(Q)=60+6Q, where P and Q are the price and quantity, respectively. The total revenue function (TR) in terms of P is

The demand of beans in bags is given by the function Q – 36 + 0.4P = 0. Where P is price in naira and Q is quantity, find  Q when P =N20