A manufacturer of nne pens produces in two plants. The total cost of producing in the nrst plant is given by TC1 yỉ + 100. The total cost of producing in the second plant is given by TC, * + 200. In these cost functions, y1 corresponds to the number of pens produced in the first plant, and y2 corresponds to the number of pens produced in the second plant. Suppose the firm's marginal cost is $256. If the firm is minimizing costs, the firm must be producing pens.

A manufacturer of nne pens produces in two plants. The total cost of producing in the nrst plant is given by TC1 yỉ + 100. The total cost of producing in the second plant is given by TC, * + 200. In these cost functions, y1 corresponds to the number of pens produced in the first plant, and y2 corresponds to the number of pens produced in the second plant. Suppose the firm's marginal cost is $256. If the firm is minimizing costs, the firm must be producing pens.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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