The total cost of producing x items of product A and y items of product B is C(x, y) = 22x 2 + 8y 2 − 5xy If the firm is committed to producing 20 items in total, write down the constraint connecting x and y . Hence fi nd the number of each type that should be produced to minimise costs

Q: Consider production function f(L, K) = 10VLK and input prices w :10,r = 90.

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A: At optimal level:-                    MPLMPK=wr Where; MPL=dQdLMPK=dQdK

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Q: The answer in the textbook says when x>5 how do you get that ?

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Q: AVC=10-0.03Q + 0.00005Q2 TFC=60 What is the TC function? What is the minimum AVC?

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Q: Find the marginal cost, if TC is 4+2Q

A: The provided total cost function is: 4+2Q

Q: The MBF plant costs a total of $ 45,000 if it produces 500 products, and a total cost of $ 100,000…

A: Total Cost = 45,000 Quantity = 500   If produces 1000 units then TC = 100,000

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Q: The difference between ATC and AVC decreases with decrease in level of output.

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Q: Exercise 21.1 A firm has weekly production function q(k, 1) = k/471/2, and the unit weekly costs for…

A:

Q: What is the marginal cost, if the cost function given is C(Y)=6 a) Y? b) 3Y c) 6Y d) 12Y

A: Marginal cost refers to an additional cost that occurs from producing one more unit of output.

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A: here we optimize the following function as given below;

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Q: 1. Minimize the costs for a firm faced with the cost function C=3x² + 2xy +5y² +500 subject to the…

A:

Q: Find the marginal cost for TC = 10x3+4x2+1

A: The total cost function is given as: TC=10x3+4x2+1

Q: Given Q=100k0.5L0.5 , C=1200 w=30   r=40 (a)Determine the quantity of labour and capital the firm…

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Q: Dear expert don't

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