Product-Product AnalysisGiven the following production possibilities when 3 units of X are used:Y2Y1Py: = $8Py2 = $10Px = $40TFC = $2024156146181. What is the Yı intercept value for an isorevenue line of $150?2. What combination maximizes revenue?3. What profit was made at that combination?

Intercept can be calculated by using the following formula.

Product-Product Analysis Given the following production possibilities when 3 units of X are used: Y2 Y1 24 15 6 Pyi = $8 P2 = $10 Px = $40 TFC = $20 14 18 1. What is the Yı intercept value for an isorevenue line of $150? 2. What combination maximizes revenue? 3. What profit was made at that combination?

Product-Product Analysis Given the following production possibilities when 3 units of X are used: Y2 Y1 24 15 6 Pyi = $8 P2 = $10 Px = $40 TFC = $20 14 18 1. What is the Yı intercept value for an isorevenue line of $150? 2. What combination maximizes revenue? 3. What profit was made at that combination?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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