Suppose that John, April, and Tristan have two production plants for producing orange juice. They have a total of 1000 crates of oranges. The marginal product of oranges in plant 1 is MP=850-0₁ and in plant 2 is MP2 = 2100 - 202. What is the best assignment of oranges between the two plants? Instructions: Enter your answers as whole numbers. Plant 1 should use crates of oranges in production and plant 2 should use crates of oranges.

Suppose that John, April, and Tristan have two production plants for producing orange juice. They have a total of 1000 crates of oranges. The marginal product of oranges in plant 1 is MP=850-0₁ and in plant 2 is MP2 = 2100 - 202. What is the best assignment of oranges between the two plants? Instructions: Enter your answers as whole numbers. Plant 1 should use crates of oranges in production and plant 2 should use crates of oranges.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.4P

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