using the following production rates in the chartslisted:
inputs($/hr) output(units/hr)
$300 50
500 100
700 150
1400 200
2000 250
selling price (dollars perunit) output (units per hour)
$10 100
9 150
8 200
7 250
(a) select an appropriate economic criterionand estimate the production rate based upon it.
(b) how could you maximize output with minimum input . explain