A firm has access to two production processes with the following marginal cost curves: MC1 = 0.5x and MC2 = 3+0.2y, where output in production process 1 is x, output in production process 2 is y and hence total output produced is Q = x+y. Show your work to answer the following questions.
(i) If it wants to produce 13 units of output, how much should it produce with each process?
(ii) If it wants to produce 27 units of output, how much should it produce with each process?
(iii) If it wants to produce 3 units of output, how much should it produce with each process?
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