How many units of each good should it produce per day

Assignment Help Microeconomics

Reference no: EM13983198

A firm produces two goods. Its total cost per day (in dollars) equals

TC = 144 + 18X - 3X1X2,

where X1 is the number of units of the first good produced per day, and X2 is the number of units of the second good produced per day. Because of commitments to customers, the firm must produce a total of 20 units of the two goods per day. If the firm's managers want to minimize its costs (without violating the commitment to its customers), how many units of each good should it produce per day?

Reference no: EM13983198

Questions Cloud

How many moles of gas are in each compartment : How many moles of gas are in each compartment? We remove the insulation from the extreme left end and add heat to gas A until it too is at 2 atm pressure. What is its new temperature?

Creating a blog for the museum website : Imagine you work for an African American history museum; you have been given the task of creating a blog for the museum's website that discusses the formation and continuing development of African American identity

Review - revise and add to the strategic points : We are focused on delivering high quality and great tasting cooking. Making delicious, innovative baked goods, we create joy that leverage our quality, service, and strong relationships with our staff and customers.

What ia the work done by friction during the process : While the force pushes the box a distance of 8.00 m, the speed changes from 0.500 m/s to 2.60 m/s. What ia the work done by friction during this process?

How many units of each good should it produce per day : Because of commitments to customers, the firm must produce a total of 20 units of the two goods per day. If the firm's managers want to minimize its costs (without violating the commitment to its customers), how many units of each good should it p..

Briefly describe the history of police brutality in america : Police Brutality in America - Briefly describe the history of Police Brutality in America

Calculate the total work done on or by the gas : The initial state of a quantity of monatomic ideal gas is P=1atm V=1liter and T=373K. Calculate the total work done on or by the gas.

What are your thoughts about the impact of cash flow : The success or failure of hospital profitability in the coming years will depend on a continued fluctuation between revenues and costs. What are your thoughts about the impact of cash flow forecasting in hospitals based on utilization, physician c..

Determine the critical discount factor : Determine the critical discount factor above which cooperation between the two firms can be sustained (i.e., playing grim trigger strategy by both firms is an equilibrium in the repeated game).

User Account

All Pages