subject
Business, 05.05.2020 15:05 hadwell34

Cookie Monster Inc. produces cookies using two inputs, cookie dough and chocolate chips. The firm’s production function is given by Q(D, C) = D^2C, MPD = 2DC, MPC = D^2, where Q denotes the quantity of cookies per day, D the batches of cookie dough per day, and C the cups of chocolate chips per day. Assume that the price of a batch of cookie dough is $2 and the price of a cup of chocolate chips is $1.
a) How much dough and chocolate chips should the firm use to maximize pro- duction if it has a fixed budget of $900 to spend on production?
b) What is the maximum number of cookies it can produce with $900?

2. Cookie Monster Inc. produces cookies using two inputs, cookie dough and chocolate chips. The firm’s production function is given by Q(D, C)=DC, MPD =C, MPC =D, where Q denotes the quantity of cookies per day, D the batches of cookie dough per day, and C the cups of chocolate chips per day. Assume that the price of a batch of cookie dough is $1 and the price of a cup of chocolate chips is $3.
a) How much dough and chocolate chips should the firm use to produce 300 cookies at minimum cost?
b) What is the minimum cost of producing 300 cookies?

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 22.06.2019 06:00, Bloom247
According to herman, one of the differences of managing a nonprofit versus a for-profit corporation is
Answers: 1
image
Business, 22.06.2019 16:10, donbright100
Answer the following questions using the banker’s algorithm: a. illustrate that the system is in a safe state by demonstrating an order in which the processes may complete. b. if a request from process p1 arrives for (1, 1, 0, 0), can the request be granted immediately? c. if a request from process p
Answers: 1
image
Business, 22.06.2019 23:30, autumnsusan190ox9kn4
Decision alternatives should be identified before decision criteria are established. are limited to quantitative solutions are evaluated as a part of the problem definition stage. are best generated by brain-storming.
Answers: 1
image
Business, 23.06.2019 07:00, ciarrap552
An employer takes a deduction from your paycheck for federal taxes. where does this money go? -the money is sent to the federal government to pay for goods and services for the community. -the money is sent to the mayor. -the money is sent to the federal government and deposited in a retirement account. -the money is sent to the social security fund.
Answers: 3
You know the right answer?
Cookie Monster Inc. produces cookies using two inputs, cookie dough and chocolate chips. The firm’s...

Questions in other subjects:

Konu
English, 17.12.2020 18:00
Konu
Advanced Placement (AP), 17.12.2020 18:00