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What is the maximum q of wood chips

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Reference no: EM133126410

A company produces chairs and wood chips in fixed proportions in the same production process : every chair produces one kg of wooden chips

  • Q for chairs: Q c = 1400 - 20 Pc
  • Q for wooden chips: Q w = 800- 1000 Pw
  • MC is Rs. 18 per unit of production - that is one chair + 1 kg chips

Q. Will it be profitable to sell all the wood chips?

  • What is the maximum Q of wood chips that must be sold?
  • What can be done with the rest of the wood chips?
  • Which is the profit-maximizing point of Q for the producer?
  • What will be the price of wood at the equilibrium quantity?

Reference no: EM133126410

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