A firm has two plants. Plant 1 has the cost curve c₁(y₁) = y₁ and plant 2 has the curve c₂(y2) = y2. What is the cost curve for the firm as a whole?

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter4: Extent (how Much) Decisions
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3. A firm has two plants. Plant 1 has the cost curve c₁(y₁) = y₁ and
plant 2 has the curve c₂(y2) = y2. What is the cost curve for the
firm as a whole?
Transcribed Image Text:3. A firm has two plants. Plant 1 has the cost curve c₁(y₁) = y₁ and plant 2 has the curve c₂(y2) = y2. What is the cost curve for the firm as a whole?
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