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djsmyers djsmyers
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Posts: 764
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6 years ago
Consider a firm with two technologies to choose between when producing output. The cost function when using technology 1 is given by:   
      c1(q) = 3600 + 65q + 36q2
The cost function when using technology 2 is given by:
      c2(q) = 900 + 900q +q2
Assume that the firm can only implement one of the two technologies at a time.
a.   If the firm wishes to produce output at the lowest per-unit cost, which technology should it choose and how much output should it produce?
b.   Which technology should the firm choose if it wishes to produce 15 units of output? What about 25 units of output?
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
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RumkoRumko
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#1
Posts: 279
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6 years ago
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djsmyers Author
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6 years ago
Correct Slight Smile TY
sakoon
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Yesterday
Smart ... Thanks!
jblazah
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2 hours ago
You make an excellent tutor!
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