Solution-The corresponding marginal costs at each plant

The corresponding marginal costs at each plant

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a. Suppose a firm produces its output in two different plants. Production costs at plant 1 are given by C1 = 4(Q1)2, where Q1 is the amount of production at plant 1. The production costs at plant 2 are given by C2 = 2(Q2)2, where Q2 is the amount of production at plant 2. The corresponding marginal costs at each plant are MC1 = 8Q1 and MC2 = 4Q2. If the firm produces a total of 24 units of output, how much output should it produce at each plant?

Reference no: EM13982800

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The corresponding marginal costs at each plant

Reference no: EM13982800

Reference no: EM13982800

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