Answer to Question #202355 in Economics for Chulumanco

Question

1. Given the following production function:

Y = 18 X1 - X12  +14 X2  - X22

And the following information:

Y = 105, Px1 = R2 and Px2 = R3

Determine the least cost combination of the two inputs X1  and  X2for this level of output

Formulate a linear programming model for this problem

Answer 1

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