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Economics A chemicals plant produces chemicals (c) as well as pollution (x) as a by-product. A nearby wheat farm produces wheat (w), but is impacted
Economics
A chemicals plant produces chemicals (c) as well as pollution (x) as a by-product. A nearby wheat farm produces wheat (w), but is impacted by the chemical plant's emitted pollution.
Suppose that the chemical plant's profits are given by c=
9.4c - (0.73c2 + 5.4x2 - xc).
What quantity of chemicals will the plant optimally choose to produces? [Use two decimal points in all of your answers.]
How much pollution (x) will the chemical plant generate?
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