What is the firms total cost function

Assignment Help Macroeconomics

Reference no: EM13183073

A firm has two production plants where they produce the same product. The cost function at plant #1 is

$C_{1}(Q_{1})=10Q_{1}+.5Q_{1}$

The cost function at plant #2 is $C_{2}(Q_{2})=10Q_{2}+2Q_{2}^{2}$
A) If the firm wants to produce Q total units of output, what fraction of Q will be produced at plant #1? What fraction at plant #2? Show all work.
B) What is the firms total cost function in terms of Q?

Reference no: EM13183073

Questions Cloud

What is the money multiplier with a reserve ratio : If people in Pantherville hold all money as currency, what is the quantity of money? b) If people hold all money as demand deposits and the Bank of Pantherville maintains 100% reserves, what is the quantity of money? c) If people hold equal amount..

Business ethic models and social responsibility : What are the differences between business ethic models and social responsibility of corporations Do you see these differences are being significant? Or could it be argued that there is no real difference or perhaps that CSR is just a type of business..

What is the firms efficient scale of production : d) Which input bundle represents efficient production of 100 units of output if the rental paid to capital is $25 and he wage paid to labor is $50? Round any decimals to the nearest hundredth. e) Derive the firm's cost function using the rental and..

How does complexity of an ecosystem influence the change : How does the complexity of an ecosystem influence the changes (rate, frequency, duration) within a habitat. How might scale (temporal/ spatial) influence ecosystem complexity?

What is the firms total cost function : A firm has two production plants where they produce the same product. The cost function at plant #1 is A) If the firm wants to produce Q total units of output, what fraction of Q will be produced at plant #1? What fraction at plant #2? Show all wo..

Separating science from the fiction : Separating science from the fiction: there are many movies based on science fiction or originally created as science fiction. What makes them science fiction movies? What scientific theories are involved?

What groups are most vulnerable to air pollution : Which of these particles are the most harmful, how do fi ne particles cause health effects and what groups are most vulnerable to fine particle air pollution?

Public health services : Find out what programs are available through public health services, local hospitals or other clinics. Discuss the scope of these services. Are these services well known? How many women take advantage of these services?

Which is hindering the employee''s performance : Identify an issue which is hindering the employee's performance. You may choose any issue which is relevant in your workplace. The performance issue could involve using the Internet on company time.

User Account

All Pages