The total cost of producing x items of product A and y items of product B is
Question:
The total cost of producing x items of product A and y items of product B is
TC = 22x2 + 8y2 − 5xy
If the firm is committed to producing 20 items in total, write down the constraint connecting x and y. Hence find the number of each type that should be produced to minimise costs.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (10 reviews)
xy20y20xTC22x 820x5x20x ...View the full answer
Answered By
Joseph Njoroge
I am a professional tutor with more than six years of experience. I have helped thousands of students to achieve their academic goals. My primary objectives as a tutor is to ensure that students do not have problems while tackling their academic problems.
4.90+
10+ Reviews
27+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
Suppose the total cost of producing x units of a product is given by C(x) = 4500 + 120x + 0.05x2 (a) Find any asymptotes of the average cost function C(x) = C(x)/x. (b) Graph the average cost...
-
The total cost of producing x units for which the fixed costs are $2500 and the cost per unit is $40 Write an algebraic expression for the verbal description.
-
The total cost of producing 500 items a day in a factory is $40 000, which includes a fixed cost of $2000. (a) Work out the variable cost per item. (b) Work out the total cost of producing 600 items...
-
Perform computational experiments to verify that the average path length in a ring graph on \(V\) vertices is \(\sim 1 / 4 V\). Then, repeat these experiments, but add one random edge to the ring...
-
A mixture of 4 kg of water vapor and 96 kg of dry air exists at 100 kPa and 25 8C in a 10-m3 volume. Determine the molar mass of the mixture and the volume occupied by the vapor. This represents very...
-
An aerialist on a high platform holds on to a trapeze attached to a support by an 8.0-m cord. (See the drawing.) Just before he jumps off the platform, the cord makes an angle of 41o with the...
-
Suppose Ironman, Inc., lost all of its inventory in a flood. Beginning inventory was \($43,000,\) net purchases totaled \($524,000,\) and sales came to \($875,000.\) Ironmans normal gross profit...
-
Price Company purchased 90% of the outstanding common stock of Score Company on January 1, 2009, for $450,000. At that time, Score Company had stockholders equity consisting of common stock,...
-
Currently, company ABC's stock is selling at 51.83 per share, its 4-month put option is selling at 4.89 per put with strike price 54.50. If the annual risk-free rate is 2.86%, what would be the price...
-
In a physics lab, students slid a mass down a ramp and determined the potential and kinetic energy at two points 55 cm apart. Their results are in the table below. Position Ep (x 103 J) Ek (x 103 J)...
-
A firms production function is given by Q = 50KL Unit capital and labour costs are $2 and $3, respectively. Find the values of K and L which minimise total input costs if the production quota is 1200.
-
Find the maximum value of the utility function, U = x1x2, subject to the budgetary constraint, x 1 + 4x 2 = 360.
-
For May 23, 2008, The Financial Times reported a spot rubledollar exchange rate of R23.5937/$ and a one-year forward exchange rate of R24.2316/$. At the time, the yield on short-term Russian...
-
Why is it important to match the cash flows and discount rate when using DCF valuation?
-
What are the main differences between the RADR and CEQ approaches to DCF valuation? Why is the CEQ approach often preferable when valuing new ventures?
-
Discuss the reasons why periodic valuation is important when ownership of a private company is transferred to employees via an ESOP. What factors do you think would lead an entrepreneur (whose shares...
-
Describe the recent performance of VC funds. Do the empirical results fit with your prior expectations? If not, how can you explain the discrepancy?
-
Explain the theoretical basis for discounted cash flow valuation. What are the key inputs required for DCF analysis?
-
The bronze C86100 pipe has an outer diameter of 1.5 in. and a thickness of 0.125 in. The coupling on it at C is being tightened using a wrench. If the torque developed at A is 125 lb in., determine...
-
Solve for the equilibria of the following discrete-time dynamical systems Pr pt+1 = Pr+2.0(I-Pr)
-
The French physician Poiseuille was the first to discover that blood flows faster near the center of an artery than near the edge. Experimental evidence has shown that the rate of flow v (in...
-
Table 6 shows state income tax rates for individuals filing a return in Louisiana. (A) Write a piecewise definition for T(x), the tax due on a taxable income of x dollars. (B) Graph T(x). (C) Find...
-
In Problem find and simplify the expression if f(x) = x 2 - 4. f(-3 + h) - f(-3)
-
The new GE Halidade-X wind turbine can produce up to 17420 horsepower [hp] of output power. The turbine is 853 feet [ft] tall and has a diameter of 722 feet [ft]. The average home uses 655.2...
-
Which exercise is easier to do, a straight-arm pullover with a 45 lb barbell or a bent- arm pullover with a 45 lb barbell? Why? (3 points)
-
Shadee Corporation expects to sell 540 sun shades in May and 320 in June. Each shade sells for $138. Shadee's beginning and ending finished goods inventories for May are 60 and 55 shades,...
Study smarter with the SolutionInn App