Question
A firm has two factories. One factory has the cost function c1(y1) = 31 2 + 60 and the other has the cost function c2(y2)
A firm has two factories. One factory has the cost function c1(y1) = 31 2 + 60 and the other has the cost function c2(y2) = 42 2 + 20.
a) Calculate the marginal cost of both factories.
b) If the firm wishes to produce a total of 35 units as cheaply as possible, how many units will be produced in each factory
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Using Stata For Principles Of Econometrics
Authors: Adkins, Lee C Adkins, R Carter Hill
4th Edition
111803208X, 9781118032084
