Suppose a firm produced 2 goods x and y and must produce x + y = 42 and have a cost function of c = 3x^8 - xy +12xy^2 solve using lagrangian cost minimization
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- A company manufactures mountain bikes. The research department produced the marginal cost function C'(x)=500-3, 0≤x≤ 900, where C'(x) is in dollars and x is the number of bikes produced per month. Compute the increase in cost going from a production level of 450 bikes per month to 600 bikes per month. Set up a definite integral and evaluate it. ← The increase in cost is $Can you think of a cost function, so that the marginal cost at any x is exactly equal to the cost of producing the (x + 1)st item? If yes, describe as many such functions as possible. If not, show why such a function cannot exist.a producer faces a fixed cost Rs 50 and a variable cost of RS 5 per unit of output when he produces less than 200 units of outputs . assuming that total cost functions is linear determine the equation of the total cost of functions
- A firm's cost function is given by C(x,y)=2x²+y²+2, where two outputs are produced, x and y. What are the outputs levels that minimize the costs to the firm? What is that minimal cost? Using hessian determinant show that cost is indeed minimizedThe cost function of a firm is given as C1 = 400 + 20Q + 4Q using this cost function what is the efficient scale of the firm?.The marginal cost of producing the xth box of DVDs is 7 + C(x): = x² 80,000 and the fixed cost is $100,000. Find the cost function C(x).
- 1/3 1/3 Farmer Joe's production function is f(x1, x2) = ", where xị is the number of pounds of lemons he uses and x2 is the number of hours he spends 1/21/2 2wi"wy3/2, where y is the squeezing them. His cost function is c(w1. w2, y) = number of units of lemonade produced. (a) If lemons cost $1 per pound, the wage rate is $1 per hour, and the price of lemonade is p, what is his marginal cost function?: Suppose that the production functions be like as (A) i) Y = X15 X20.5 ii)Y= X10.5 + X20.5 Find MRTS of these functionsThe weekly marginal cost of producing x pairs of tennis shoes is given by the following function, where C(x) is cost in dollars. C′(x)=15+500x+1 If the fixed costs are $4,000 per week, find the cost function. What is the average cost per pair of shoes if 1,000 pairs of shoes are produced each week?
- What is the marginal cost, if the cost function given is C(Y)=6Y²? a) Y? b) 3Y c) 6Y d) 12YSuppose that the cost function for a commodity is C(x) = 90 + x? dollars. (a) Find the marginal cost at x = 7 units. MC(7) = [ Tell what this predicts about the cost of producing 1 additional unit. The cost to produce the 8th unit is predicted to be $ (b) Calculate C(8) - C(7) to find the actual cost of producing 1 additional unit. $4Consider the following cost function: C= 0.25q - 49° + 85q + 150: When output is 16 units, average cost is $ (Enter a numeric response using a real number rounded to two decimal places.) When output is 16 units, marginal cost is $ The output level where average variable cost equals marginal cost is units. 20 tv MacBook Air 80 DII F2 F3 F4 FB F10 F11 %23 $ & 3 4 5 8 { [ ン E R Y U P D F G K C V N M command option .. .. ト
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