A firm manufactures a commodity at two different factories, Factory X and Factory Y. The total cost (in dollars) of manufacturing depends on the quantities, z and y produced at each factory, respectively, and is expressed by the joint cost function: C(z,y)=2x² + xy + 4y² + 2200 A) If the company's objective is to produce 1,000 units per month while minimizing the total monthly cost of production, how many units should be produced at each factory? (Round your answer to whole units. i.e. no decimal places.) To minimize costs, the company should produce:
A firm manufactures a commodity at two different factories, Factory X and Factory Y. The total cost (in dollars) of manufacturing depends on the quantities, z and y produced at each factory, respectively, and is expressed by the joint cost function: C(z,y)=2x² + xy + 4y² + 2200 A) If the company's objective is to produce 1,000 units per month while minimizing the total monthly cost of production, how many units should be produced at each factory? (Round your answer to whole units. i.e. no decimal places.) To minimize costs, the company should produce:
Chapter1: Making Economics Decisions
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Transcribed Image Text:A firm manufactures a commodity at two different factories, Factory X and Factory Y. The total cost (in
dollars) of manufacturing depends on the quantities, and y produced at each factory, respectively, and is
expressed by the joint cost function:
C(z,y) = 2z² + xy + 4y² + 2200
A) If the company's objective is to produce 1,000 units per month while minimizing the total monthly cost of
production, how many units should be produced at each factory? (Round your answer to whole units. i.e. no
decimal places.)
To minimize costs, the company should produce:
units at Factory X and
units at Factory Y
B) For this combination of units, their minimal costs will be
any commas in your answer.)
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