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A company has two manufacturing plants which manufacture the same item. Suppose the cost function is given by C (q1, 92) = 29, + 9192
A company has two manufacturing plants which manufacture the same item. Suppose the cost function is given by C (q1, 92) = 29, + 9192 + 92, where q, and 92 are the quantities (measured in thousands) produced in each plant. The total deman 91 + 92 is related to the price, p, by p = 110 - 0.5 (q1 + 92). How much should each plant produce in order to maximize the company's profit? The first plant should produce i items and the second plant should produce i items in order to maximize profit
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