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Mathematics, 25.11.2021 09:20 aleexandras09

3. A firm’s total cost function is given by TC= 3X^2 + 2XY+7Y^2

Where X and Y denote the number of items of goods 1 and 2, respectively that are produced. Using the substitution method, find the values of X and Y which minimize costs if the firm is committed to producing 40 goods of either type in total.

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3. A firm’s total cost function is given by TC= 3X^2 + 2XY+7Y^2

Where X and Y denote t...

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