5. Assume the yield of maize and wheat are given below with its selling price of birr 7 and 10 per quintal respectively. If only 10 units of inputs with a price of 40 Birr per unit were used. Then: a) What is the profit maximizing combination of output? b) What is the maximum profit? Yield of Maize (Yı) 10 20 30 40 50 60 70 Yield of wheat (Y2) 78 76 72 67 60 48 28

5. Assume the yield of maize and wheat are given below with its selling price of birr 7 and 10 per quintal respectively. If only 10 units of inputs with a price of 40 Birr per unit were used. Then: a) What is the profit maximizing combination of output? b) What is the maximum profit? Yield of Maize (Yı) 10 20 30 40 50 60 70 Yield of wheat (Y2) 78 76 72 67 60 48 28

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter7: Economies Of Scale And Scope

Section: Chapter Questions

Problem 7.5IP

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