How to maximize output with minimum input

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Reference no: EM13246324

using the following production rates in the chartslisted:
inputs($/hr) output(units/hr)
$300 50
500 100
700 150
1400 200
2000 250
selling price (dollars perunit) output (units per hour)
$10 100
9 150
8 200
7 250

(a) select an appropriate economic criterionand estimate the production rate based upon it.

(b) how could you maximize output with minimum input . explain

Reference no: EM13246324

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