3. Suppose there is a firm that is producing goods x and goods y. The current revenuefor the firm is R(q2, qy): = 100qr +25qy while the firm's overall cost is:C(qr,qy)=40+0.5q – 24r4y+2.5qAt this moment the firm has decided to produce qr=50 andqy= 25.Statement: Based on marginal analysis of the data given,production is optimal.the firm's choice of

optimal quantity of production is determined when MR=MC . This condition is used to determine the…

3. Suppose there is a firm that is producing goods x and goods y. The current revenue for the firm is R(qx, y) = 100qr +25qy while the firm's overall cost is: C(qr, gy) = 40 +0.597 - 29rgy +2.5q At this moment the firm has decided to produce q = 50 and qy = 25. Statement: Based on marginal analysis of the data given, the firm's choice of production is optimal.

3. Suppose there is a firm that is producing goods x and goods y. The current revenue for the firm is R(qx, y) = 100qr +25qy while the firm's overall cost is: C(qr, gy) = 40 +0.597 - 29rgy +2.5q At this moment the firm has decided to produce q = 50 and qy = 25. Statement: Based on marginal analysis of the data given, the firm's choice of production is optimal.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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