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A firm produces two products which are sold in two separate markets with the demand Schedules p 1 = 600 0.3q 1 , p 2

A firm produces two products which are sold in two separate markets with the demand

Schedules p₁ = 600 0.3q₁ , p₂ = 500 0.2q₂

Production costs are related and the firm faces the total cost function

TC = 16 + 1.2q₁ + 1.5q₂ + 0.2q₁q₂ If the firm wishes to maximize total profits, how much of each product should it sell? What will the maximum profit level be?

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