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Suppose a transport company faces the demand for transporting rice and wood. The demand equation for rice and wood are Pc=38-Qc and Pg=14-0.25Qg, where Pc,
Suppose a transport company faces the demand for transporting rice and wood. The demand
equation for rice and wood are Pc=38-Qc and Pg=14-0.25Qg, where Pc, Pg, Qc, Qg are the price of rice, price of wood, the quantity of rice shipped, and quantity of wood shipped, respectively (prices are all in $). The marginal cost for moving the goods (i.e., rice and wood) is $10. Find price and quantity that maximize profit of the company and calculate company's maximum profit.
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