This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: and C(Q 2 ) = 60,000 + 350Q 2 + 2Q 2 2 in its second plant. Marginal costs of production are dC(Q 1 )/dQ 1 = 500 + 10Q 1 and dC(Q 2 )/dQ 2 = 350 + 4Q 2 . Demand for Midwest Electrics product is Q = 400 (1/5)P. 3. How many units of power will Midwest produce in the first plant? Second plant? 4. What will the company charge per unit of power? 5. What will the companies profits be?...
View Full Document
This note was uploaded on 02/06/2011 for the course ECON 415 taught by Professor Holland during the Summer '09 term at Purdue University-West Lafayette.
- Summer '09