A firm has two plants that produce identical output. The cost functions are C1=346q−8q2+0.5q3 and C2=346q−10q2+1.0q3. Part 2First, note that if AC1=346−8q+0.5q2, then dAC1dq=−8+2(0.5)q.Similarly, if AC2=346−10q+1.0q2, then dAC2dq=−10+2(1.0)q. If the firm wants to produce units of output, how much should it produce in each plant? The firm should produce _ units at the first plant and _ units at the second plant. (Enter a numeric response using an integer.) Please do fast ASAP fast

A firm has two plants that produce identical output. The cost functions are C1=346q−8q2+0.5q3 and C2=346q−10q2+1.0q3. Part 2First, note that if AC1=346−8q+0.5q2, then dAC1dq=−8+2(0.5)q.Similarly, if AC2=346−10q+1.0q2, then dAC2dq=−10+2(1.0)q. If the firm wants to produce units of output, how much should it produce in each plant? The firm should produce _ units at the first plant and _ units at the second plant. (Enter a numeric response using an integer.) Please do fast ASAP fast

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter7: Economies Of Scale And Scope

Section: Chapter Questions

Problem 5MC

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A firm has two plants that produce identical output. The cost functions are C1=346q−8q2+0.5q3 and C2=346q−10q2+1.0q3. Part 2 First, note that if AC1=346−8q+0.5q2, then dAC1dq=−8+2(0.5)q. Similarly, if AC2=346−10q+1.0q2, then dAC2dq=−10+2(1.0)q. At what output level does the average cost curve of each plant reach its minimum? The first plant reaches minimum average cost at _ units of output. (Enter a numeric response using an integer.) Please do fast ASAP fast
A company makes solar panels. The company's revenue function, in dollars, is R(n)= 10n , where n is the number of panels produced. The cost function is C(n) = 100(2)30 . R and C are shown on the graph below. 1000 800 600 400 200 20 40 60 80 100 1 Number of Panels a) Estimate from the graph i) the break-even points e) How would your answers for break-even points and maximum profit change if i) the number of dollars of revenue per panel is increased slightly? ii) the cost function is changed to C(n)=100(2)35 ? f) What does the number that was changed in part e) ii) represent? Dollars
Suppose that the dollar cost of producing q appliances is c(q) = 1500 + 140q-0.3q. (a) Find the average cost per appliance of producing the first 150 appliances. (b) Find the marginal cost when 150 appliances are produced. (a) The average cost per appliance of producing the first 150 appliances is $ (Round to the nearest cent as needed.) per appliance. The total-cost function for an electric light and power plant is estimated to be c= 32.07 -0.79g +0.02142q -0.0001g 10sqs 100 where q is the eight-hour total output (as a percentage of capacity) and c is the total fuel cost in dollars. Find the marginal-cost function and evaluate it when q 38. Determine the marginal-cost function. Select the correct choice below and fill in the answer box to complete your choice. (Use integers or decimals for any numbers in the expression.) OA. dq OB.
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A firm has two plants that produce identical output. The cost functions are 2 3 C₁ = 129₁ - 12 (9₁)² + (9₁) ³ and 2+ C₂ = 1292-8 (92)² + (92) ³. At what output level does the average cost curve of each plant reach its minimum? If the firm wants to produce 20 units of output, how much should it produce in each plant? Let q₁ be the output at plant 1 and 92 be the output at plant 2. Average cost at plant 1 reaches a minimum at (Enter your response rounded to one decimal place.) Average cost at plant 2 reaches a minimum at and 91 92 91 = 92 (Enter your responses rounded to two decimal places.) = (Enter your response rounded to one decimal place.) If the firm wants to produce 20 units of output, it should produce = = unit(s). unit(s). units at plant 1 units at plant 2.
Cost analysis. A company with two different plants manufactures guitars and banjos. Its production costs for each instrument are given in the following matrices. Plant X Plant Y Guitar Banjo Guitar Banjo Materials $45 $28 $95 $124 =A $60 $58 $119 $120 =B Labor Find 12(A+B), the average cost of production for the two plants. = $enter your response here $enter your response here $enter your response here $enter your response here (Type integers or decimals.)
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Question 5 > A firm manufactures a commodity at two different factories, Factory X and Factory Y. The total cost (in dollars) of manufacturing depends on the quantities, and y produced at each factory, respectively, and is expressed by the joint cost function: C(x, y) = x² + xy + 2y² + 200 A) If the company's objective is to produce 600 units per month while minimizing the total monthly cost of production, how many units should be produced at each factory? (Round your answer to whole units, i.e. no decimal places.) To minimize costs, the company should produce: units at Factory X and units at Factory Y B) For this combination of units, their minimal costs will be enter any commas in your answer.) Question Help: Video Submit Question dollars. (Do not
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