Multiple Choice
You are the manager of a firm that produces output in two plants.The demand for your firm's product is P = 120 − 6Q,where Q = Q1 + Q2.The marginal costs associated with producing in the two plants are MC1 = 2Q1 and MC2 = 4Q2.How much output should be produced in plant 1 in order to maximize profits?
A) 3
B) 6
C) 9
D) 12
Correct Answer:
Verified
Correct Answer:
Verified
Q67: You are the manager of a firm
Q68: Which of the following is true under
Q69: Suppose the cost function for your firm
Q70: A monopoly has two production plants with
Q71: John provides cheese (H)and milk (M)to the
Q73: Which of the following is (are)basic feature(s)of
Q74: You are the manager of a firm
Q75: Which of the following statements is NOT
Q76: Eric provides cheese (H)and milk (M)to the
Q77: In the long run,perfectly competitive firms produce