Hack’s berries faces a short-run total cost of production given by tc = q 3 – 12 q 2 + 100q + 1,000, where q is the number of crates of berries produced per day. hack’s marginal cost of producing berries is 3 q 2 – 24q + 100. a. what is the level of hack’s fixed cost? b. what is hack’s short-run average variable cost of producing berries? c. if berries sell for $60 per crate, how many berries should hack produce? how do you know? (hint: you may want to remember the relationship between mc and avc when avc is at its minimum.) d. if the price of berries is $79 per crate, how many berries should hack produce? explain

answersituation analysis;

answer(b) revenue account which increases;

answer///supply is elastic, and demand is inelastic;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.