Consider a firm with two technologies to choose between when producing output.The cost function when using technology 1 is given by:
c₁(q)= 3600 + 65q + 36q²
The cost function when using technology 2 is given by:
c₂(q)= 900 + 900q +q²
^{Assume that the firm can only implement one of the two technologies at a time.}
a.If the firm wishes to produce output at the lowest per-unit cost,which technology should it choose and how much output should it produce?
b.Which technology should the firm choose if it wishes to produce 15 units of output? What about 25 units of output?

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The Answer of Consider a firm with two technologies to choose between when producing output.The cost function when using technology 1 is given by: c₁(q)= 3600 + 65q + 36q² The cost function when using technology 2 is given by: c₂(q)= 900 + 900q +q² ^{Assume that the firm can only implement one of the two technologies at a time.} a.If the firm wishes to produce output at the lowest per-unit cost,which technology should it choose and how much output should it produce? b.Which technology should the firm choose if it wishes to produce 15 units of output? What about 25 units of output?

Consider a Firm with Two Technologies to Choose Between When