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A firm has access to two production processes with the following marginal cost curves: MC -0.4Q and MC, -2+0.20. a. If it wants to produce 8 units of output, how much should it produce with each process? b. What if it wants to produce 4 units? Then how much should it produce with each process?

A firm has access to two production processes with the following marginal cost curves: MC -0.4Q and MC, -2+0.20. a. If it wants to produce 8 units of output, how much should it produce with each process? b. What if it wants to produce 4 units? Then how much should it produce with each process?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A firm has access to two production processes with the following marginal cost curves: MC, = 0.4Q and MC, = 2+0.20. a. If it wants to produce 8 units of output, how much should it produce with each process? b. What if it wants to produce 4 units? Then how much should it produce with each process?
Transcribed Image Text:A firm has access to two production processes with the following marginal cost curves: MC, = 0.4Q and MC, = 2+0.20. a. If it wants to produce 8 units of output, how much should it produce with each process? b. What if it wants to produce 4 units? Then how much should it produce with each process?
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