A firm gives electricity to the neighborhood. The firm buys two inputs: green energy (G) and fossil fuel energy (F). The function is given by: Q(G, F) = 4(G + F) a) Find the marginal product per dollar spent on F and G for the firm when PG = 20 and PF = 20. b) Find the cost-minimizing combination(s) of fossil fuels and green energy for the firm to make Q' units of output (a fixed level). c) The government subsidized green energy. What is the new cost-minimizing combination(s) of fossil fuels and green energy for the firm to produce Q' of output (a fixed level). Give typed Answer ASAP correctly with proper explanatio
A firm gives electricity to the neighborhood. The firm buys two inputs: green energy (G) and fossil fuel energy (F). The function is given by: Q(G, F) = 4(G + F) a) Find the marginal product per dollar spent on F and G for the firm when PG = 20 and PF = 20. b) Find the cost-minimizing combination(s) of fossil fuels and green energy for the firm to make Q' units of output (a fixed level). c) The government subsidized green energy. What is the new cost-minimizing combination(s) of fossil fuels and green energy for the firm to produce Q' of output (a fixed level). Give typed Answer ASAP correctly with proper explanatio
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A firm gives electricity to the neighborhood. The firm buys two inputs: green energy (G) and fossil fuel energy (F). The function is given by: Q(G, F) = 4(G + F) a) Find the marginal product per dollar spent on F and G for the firm when PG = 20 and PF = 20. b) Find the cost-minimizing combination(s) of fossil fuels and green energy for the firm to make Q' units of output (a fixed level). c) The government subsidized green energy. What is the new cost-minimizing combination(s) of fossil fuels and green energy for the firm to produce Q' of output (a fixed level).
Give typed Answer ASAP correctly with proper explanation.
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