The total cost function of a firm that produces its product on two assembly lines is given as  TC (x,y) = 3x2+6y2-xy The problem facing the firm is to detrmine the least-cost combination of output on assembly lines x and y subject to the side condition that total output equal 20 units.  Find the out put of x and y subject to a total of 20 units that minimize total cost by using both substitution and Lagrangian multiplier methods

Q: Assume that it costs a company approximately C(x) = 484,000+ 160x + 0.001x² dollars to manufacture x…

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Q: A Cobb-Douglas production function for new company is given by F(K,L) = K3/5L2/5 where K represents…

A: We know, at equilibrium, MPLMPK=wr

Q: For the total cost in function: TC=15Q-8Q2+Q3, what is the output level (Q) when producing at…

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Q: that a certain company sells each kg of the product it manufactures at $80, it is also known that…

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Q: Define the cost function c(w1,w2 ,y) =w1×1(w1,w2.y) + w2x2(w1,w2,y). Show that the cost function is…

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Q: For the total cost in function: TC=15Q-8Q2+Q3, what is the output level (Q) when producing at…

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Q: Write the technical rate of substitution expression for f(x1, x2) = (x1 - 1)0.25 x20.5

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A:

Q: The Cobb-Douglas production function for a particular product is N(x,y) = 40x0.6.0.4, where x is the…

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Q: Isocost and Production functions What is the optimal mix of x₁ and X₂? C = 5x₁ + 10x₂ Q = 10x₁³x₂+

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A: Given: C(x) =250x+x23375