Question: LJ Full), 3. Suppose a firm' 5 multiproduct cost function' Is g , 04): 65 0.504(12 + 0. 3Q12 + 0. 40,22, and management '

$\\LJ Full\"), 3. Suppose a firm' 5 multiproduct cost function' Is$

\\LJ Full\"), 3. Suppose a firm' 5 multiproduct cost function' Is g , 04): 65 0.504(12 + 0. 3Q12 + 0. 40,22, and management ' wishes to produce 25 units of each product (Q1: Q2: 25 units). (a) Determine the marginal cost of each product at the planned levels of production. Clearly show your steps and calculations. (b) Clearly show your steps and calculate the total cost of producing (11 and Q2 jointly at one plant and the total cost of producing Q1 and (12 separately at two independent plants at the planned levels of productiOn. What is the economic relevance of this analysis? Explain. (c) Clearly show your steps and estimate the impact of an increase in production of one product on the marginal cost of the other product at the planned production levels. What is the economic relevance of this analysis? Explain

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