You Are the Manager of a Firm That Produces Output

question 57

Multiple Choice

You are the manager of a firm that produces output in two plants.The demand for your firm's product is P = 120 − 6Q,where Q = Q₁ + Q₂.The marginal costs associated with producing in the two plants are MC₁ = 2Q₁ and MC₂ = 4Q₂.What price should be charged in order to maximize revenues?

• A) 6
• B) 2
• C) 24
• D) 60

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Definitions:

Preserve Time

Refers to the maintenance and protection of time as a valuable resource, ensuring it is utilized effectively and not wasted.

Avoid Interruptions

Strategies or practices aimed at minimizing disruptions in order to maintain focus and increase productivity.

Learning To Say No

The skill of setting personal or professional boundaries, making it possible to prioritize tasks and manage time effectively.

Scenario Planning

Scenario planning is a strategic planning method used to make flexible long-term plans based on different possible future conditions.