Solved

Use the Following to Answer Questions

Question 45

Multiple Choice

Use the following to answer questions:
Figure: Light Bulbs Use the following to answer questions: Figure: Light Bulbs   -(Figure: Light Bulbs)  In this diagram, Firm 1 (MC<sub>1</sub>)  and Firm 2 (MC<sub>2</sub>)  are each making 100 million light bulbs. How many light bulbs should each firm make to minimize total production costs while maintaining the same total output? A)  Firm 1: 40 million; Firm 2: 40 million B)  Firm 1: 20 million; Firm 2: 30 million C)  Firm 1: 80 million; Firm 2: 120 million D)  Firm 1: 120 million; Firm 2: 80 million
-(Figure: Light Bulbs) In this diagram, Firm 1 (MC1) and Firm 2 (MC2) are each making 100 million light bulbs. How many light bulbs should each firm make to minimize total production costs while maintaining the same total output?


A) Firm 1: 40 million; Firm 2: 40 million
B) Firm 1: 20 million; Firm 2: 30 million
C) Firm 1: 80 million; Firm 2: 120 million
D) Firm 1: 120 million; Firm 2: 80 million

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions