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What is the minimum cost and sp for the constraint

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Reference no: EM13879029

A firm manufactures a product using two inputs (x and y) and has the following cost function:

Cost = f(x,y) = 35x2 + 2xy + 10y2 - 200x - 100y.

The firm may use any combination of the inputs x and y so long as x + y = 100. Find the amount of x and y that should be used to minimize cost while satisfying the restriction that x + y = 100. In addition, what is the minimum cost and SP for the constraint?

Reference no: EM13879029

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