A perfect competitive firm faces a market price of $10 for its output X.

| February 25, 2017

Question
A perfect competitive firm faces a market price of $10 for its output X. It owns two plants A and B, whose total costs are TCa=10+2X+.25X^2 and TCb=15+.4X+.1X^2. How many units should each plant produce to maximize profit at that price?

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