A firm produces two goods, X and Y, that are complements in production. One unit of the joint product, Q j , produces one unit of Q X and one unit of Q Y (similar to the Chem Tech problem in the text). The demands for X and Y are Q X = 150,000 -500P X and Q Y = 160,000 - 400P Y . The joint marginal cost function is MC j = 40 + 0.002Q j .
-The marginal revenue functions for X and Y are, respectively, ______ and ______.

Question

Quizplus · Accepted Answer

The Answer of A firm produces two goods, X and Y, that are complements in production. One unit of the joint product, Q j , produces one unit of Q X and one unit of Q Y (similar to the Chem Tech problem in the text). The demands for X and Y are Q X = 150,000 -500P X and Q Y = 160,000 - 400P Y . The joint marginal cost function is MC j = 40 + 0.002Q j .
-The marginal revenue functions for X and Y are, respectively, ______ and ______.

A Firm Produces Two Goods, X and Y, That Are