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Noah and Naomi want to produce 100 garden benches per week in two production plants. The cost functions at the two plants are C1(Q1)=600Q1?2(Q1)2C1(Q1)=600Q1?2(Q1)2 and
Noah and Naomi want to produce 100 garden benches per week in two production plants. The cost functions at the two plants are C1(Q1)=600Q1?2(Q1)2C1(Q1)=600Q1?2(Q1)2 and C2(Q2)=650Q2?3(Q2)2.C2(Q2)=650Q2?3(Q2)2. The corresponding marginal costs are MC1=600?4Q1MC1=600?4Q1 and MC2=650?6Q2.MC2=650?6Q2. What is the best assignment of output between the two plants?
Noah and Naomi want to produce 100 garden benches per week in two production plants. The cost functions at the two plants are 01(62.) = 600621 e 2(Q1)2 and 02(in = 650% e 9492)? The corresponding marginal costs are M01 : 600 7 4Q1 and M02 : 650 7 Mb. 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 2Step by Step Solution
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