Find maximum output if marginal product of input is given, Microeconomics

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Find maximum output if marginal product of input is given

Assume that a firm uses two types of input in the production of a certain commodity. What is the maximum output if the marginal product of input 1 is MP1=100X2-X1 and the marginal product of input 2 is MP2=100X1-X2,the total amount that can be spent on inputs is $1000, the price of input 1 is $2 and the price of input 2 is $5?

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Microeconomics: Find maximum output if marginal product of input is given

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Microeconomics: Find maximum output if marginal product of input is given

Reference No:- TGS069227

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find maximum output if marginal product of input is given

Reference No:- TGS069227

Recent Questions Asked Microeconomics

Q : Draft an e-mail to calvin morris

Q : Merchandise and received full credit

Q : What effect on 2011 income should be reported by goofy

Q : What strategies do you apply to minimize errors

Q : Find maximum output if marginal product of input is given

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Q : How much should howdy doody show in 2011 income statement

Q : How many firms will exist in market in the long run

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