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    Cost Analysis : Solution set

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    Cost Analysis: Cost Analysis
    The fresh milk market in Honolulu is purely competitive. The typical production cost is defined by a
    a cubic cost schedule as shown below.

    Y C
    0 200
    1 397.06
    2 518.48
    3 582.62
    4 607.84
    5 612.5
    6 614.96
    7 633.58
    8 686.72
    9 792.74
    10 970
    Find (a) the cubic equation that describes the production function of milk, (b) find the output of milk that
    maximizes profit if the price of milk is $150/ton, © find the maximum profit.

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    https://brainmass.com/economics/production-function/cost-analysis-solution-set-310254

    Solution Summary

    Cost Analysis is achieved in this case.

    $2.19