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1. Two firms currently produce the goods q1 and q2 separately. Their cost functions are C(q1) = 25 + q1, and C(q2) = 45 + 2q2. If the two firms merge, it is estimated that the merged firm can produce the two goods jointly with costs described by the function C(q1, q2) = 45 + 2q1 + q2. Are there scope economies in this case that would justify the merger?
2. A U.S. firm is considering moving its production to Mexico. Its estimated production function is q = L0.5K0.5. The U.S. factor prices are wUS = 10 and rUS = 10. The Mexican factor prices are wMX = 5, rMX = 10. Answer the following questions:
a. What is the optimal input bundle (L,K) of producing q = 100 units in U.S.?
b. What is the optimal input bundle (L,K) of producing q = 100 units in Mexico?
c. Will the U.S. firm achieve cost saving by moving its production to Mexico?
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