Mathematics, 10.04.2020 20:36, RyannLambertt9722

A firm’s cost function is given by C = .05x2 + .01xy + .03y2 + 10x + 15y + 12000 where x and y are the quantities of the firm’s two products. The firm has a contract to produce 2000 of x or y. How many of each type of product should the firm produce to meet its contract? What is the value of lambda and what does this mean? What is the cost for the contract?

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A firm’s cost function is given by C = .05x2 + .01xy + .03y2 + 10x + 15y + 12000 where x and y are t...