Assignment 8 A firm has the following production function: y = f(x) where y is the output
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Assignment 8
A firm has the following production function: y = f(x) where y is the output and x is the input. If the price of y is $2 per unit and the price of x is $6 per unit, complete the following table and plot output, AP, and MP on a graph. Determine the optimum level of input x that should be used to maximize profit, given fixed costs = $100
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