What output of milk maximizes profits

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Elsie's Dairy Products produces cheese (H) and milk (M). Elsie's total cost equation is C(H, M) = 10 + 0.4H2 + 0.2M2. The prices of cheese and milk in the market are $2 and $4, respectively. If the cheese and milk markets are perfectly competitive, what output of milk maximizes profits?

Reference no: EM132422598

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