The total cost of producing x items of product A and y items of product B is
Question:
The total cost of producing x items of product A and y items of product B is
TC = 22x2 + 8y2 − 5xy
If the firm is committed to producing 20 items in total, write down the constraint connecting x and y. Hence find the number of each type that should be produced to minimise costs.
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xy20y20xTC22x 820x5x20x ...View the full answer
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