3. a. A firm produces two different kinds A and B of a commodity. The daily cost of producing a units of A and y units of B is C(r, y) = 0.04a + 0.01ry + 0.01y + 4x +2y + 500 A sells for $15 per unit and B sells for $9 per unit. Find the daily production levels of a and y that maximize profit per day

3. a. A firm produces two different kinds A and B of a commodity. The daily cost of producing a units of A and y units of B is C(r, y) = 0.04a + 0.01ry + 0.01y + 4x +2y + 500 A sells for $15 per unit and B sells for $9 per unit. Find the daily production levels of a and y that maximize profit per day

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter8: Production And Costs

Section8.5: Production And Costs In The Long Run

Problem 3ST

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