Noah and Naomi want to produce 300 garden benches per week in two production plants. The cost functions at the two plants are C1(Q1)=800Q1−2(Q1)^2 and C2(Q2)=850Q2−3(Q2)^2 The corresponding marginal costs are MC1=800−4Q1 and MC2=850−6Q2 What is the best assignment of output between the two plants? Instructions: Enter your answers as whole numbers. Noah and Naomi should produce benches at plant 1 and benches at plant 2.
Noah and Naomi want to produce 300 garden benches per week in two production plants. The cost functions at the two plants are C1(Q1)=800Q1−2(Q1)^2 and C2(Q2)=850Q2−3(Q2)^2 The corresponding marginal costs are MC1=800−4Q1 and MC2=850−6Q2 What is the best assignment of output between the two plants? Instructions: Enter your answers as whole numbers. Noah and Naomi should produce benches at plant 1 and benches at plant 2.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section12.4: Costs In The Short Run And In The Long Run
Problem 4QQ
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Noah and Naomi want to produce 300 garden benches per week in two production plants. The cost functions at the two plants are
C1(Q1)=800Q1−2(Q1)^2
and
C2(Q2)=850Q2−3(Q2)^2
The corresponding marginal costs are
MC1=800−4Q1
and
MC2=850−6Q2
What is the best assignment of output between the two plants?
Instructions: Enter your answers as whole numbers.
Noah and Naomi should produce benches at plant 1 and benches at plant 2.
C1(Q1)=800Q1−2(Q1)^2
and
C2(Q2)=850Q2−3(Q2)^2
The corresponding marginal costs are
MC1=800−4Q1
and
MC2=850−6Q2
What is the best assignment of output between the two plants?
Instructions: Enter your answers as whole numbers.
Noah and Naomi should produce benches at plant 1 and benches at plant 2.
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