Derive also graph the mc function. conclude the cheapest, Ask an Expert

Economics

Q1. A firm has two production processes, MC1 = 0.75Q1 also MC2 = 12 + 0.25Q2.

a. Derive also graph the MC function.

b. Conclude the cheapest way to produce 20 units.

c. Conclude the cheapest way to produce 12 units.

Q2. Assume equilibrium income is $3,000 billion also government policy makers Conclude which potential income is $3,500 billion. By Elucidate how much must government spending change to close the GDP gap if the mpe = 0.80?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9165452

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