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A firm has two production plants where they produce the same product. The cost function at plant #1 is
\(C_{1}(Q_{1})=10Q_{1}+.5Q_{1}\)
The cost function at plant #2 is \(C_{2}(Q_{2})=10Q_{2}+2Q_{2}^{2}\) A) If the firm wants to produce Q total units of output, what fraction of Q will be produced at plant #1? What fraction at plant #2? Show all work.B) What is the firms total cost function in terms of Q?
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A country has the per-worker production function, y=5k1/2, where y is the output per worker and k is the capital- labor ratio. The depreciation rate is 0.15 and the population growth rate is 0.05. The saving function s=0.2Y where s is total nation..
Assume her estimated selling price is lower than originally projected. How much revenue would she need in order to earn a positive accounting profits.
Assume now that there is an increase in demand for the good produced in this market. Market has once again adjusted to long-run equilibrium.
How does N, the number of firms in the market, affect each firms demand curve? Why. b. How many units does each firm produce? (The answer to this and the next two questions depend on N.) c. What price does each firm charge? d. How much profit does ea..
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