Problem: Noah and Naomi want to produce 100 garden benches per week in two production plants. The cost functions at the two plants are C1= 600Q1 - 3(Q1)2andC2= 650Q2 - 2(Q2)2, and the corresponding marginal costs are MC1= 600-6Q1 andMC2= 650-4Q2.
Required:
Question: What is the best assignment of output between the two plants? Explain your answer and provide examples.