Question: Production function =Y=f(x)=16x-12x 2 , Y=$2 per unit, co-operative cost curve for producing x=25+2x+x 2 /2. 1. Determine the demand curve for an individual member

Production function =Y=f(x)=16x-12x², Y=$2 per unit, co-operative cost curve for producing x=25+2x+x²/2.

1. Determine the demand curve for an individual member

2. determine the demand curve for the entire membership if there are 24 members in the co-operative

3. Derive the marginal cost curve and the average cost curve for the co-operative.

4. If the co-operative is acting to maximize the welfare of its members, determine the optimum price to charge for x. What quantity of x will be sold?

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