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A firm produces its output in two plants, A and B.a. To maximize its profit, the firm should produce the output at which ______ equals ______. It sets the price given by ______.

b. It should allocate this output between the two plants so that ______ equals ______.

c. If marginal cost in plant A is $20 and the marginal cost in plant B is $15, the firm should reduce output in ______ and increase output in ______. As it continues this reallocation ______ will increase and ______ will decrease.

  • MATH -

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