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1) A firm is producing two products, X and Y, in fixed proportions (one unit of X for each unit of Y). The firm's total cost and demand functions are as follows:
TC = 100 + 6Q +Q2
Px= 200 - Qx
Py= 150 - 2Qy
a. Given this information, how many units of the joint product should the firm produce? Show your work.
b. Given this information, how many units of the product Y should the firm throw away? Show your work.
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