Why the two different technologies of production exist


In the recline chair industry two different technologies of production exist. These technologies exhibit the following the total cost functions.
C1(q)=500+260q-20q^2+q^3
C2(q)=1000+145q-10q^2+q^3
The market price of recalling chairs has fallen to 110 due to foreign competition.

Request for Solution File

Ask an Expert for Answer!!
Macroeconomics: Why the two different technologies of production exist
Reference No:- TGS0869186

Expected delivery within 24 Hours