A firm has two plants that produce identical output. The cost functions are C1=346q−8q2+0.5q3 and C2=346q−10q2+1.0q3. Part 2First, note that if AC1=346−8q+0.5q2, then dAC1dq=−8+2(0.5)q.Similarly, if AC2=346−10q+1.0q2, then dAC2dq=−10+2(1.0)q. If the firm wants to produce units of output, how much should it produce in each plant? The firm should produce _ units at the first plant and _ units at the second plant. (Enter a numeric response using an integer.) Please do fast ASAP fast
A firm has two plants that produce identical output. The cost functions are C1=346q−8q2+0.5q3 and C2=346q−10q2+1.0q3. Part 2First, note that if AC1=346−8q+0.5q2, then dAC1dq=−8+2(0.5)q.Similarly, if AC2=346−10q+1.0q2, then dAC2dq=−10+2(1.0)q. If the firm wants to produce units of output, how much should it produce in each plant? The firm should produce _ units at the first plant and _ units at the second plant. (Enter a numeric response using an integer.) Please do fast ASAP fast
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
A firm has two plants that produce identical output. The cost functions are
C1=346q−8q2+0.5q3
and
C2=346q−10q2+1.0q3.
Part 2
First, note that if
AC1=346−8q+0.5q2,
then
dAC1dq=−8+2(0.5)q.
Similarly, if
AC2=346−10q+1.0q2,
then
dAC2dq=−10+2(1.0)q.
If the firm wants to produce units of output, how much should it produce in each plant? The firm should produce _ units at the first plant and _ units at the second plant. (Enter a numeric response using an integer.)
Please do fast ASAP fast
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