Production processes-marginal cost curves

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Reference no: EM13770305

A firm has two production processes with the following marginal cost curves:

MC1= 2Q1

and

MC2=5000+0.5Q2

(A) If the firm wants to produce 20,000 units, how will it distribute production between process 1 and process2?

(B) What is the largest quantity the firm can produce where the cost minimizing choice is to produce everything with production process 1?

Reference no: EM13770305

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