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11.6 (4 Points) Suppose we have a firm producing two goods in quantities q and q2 and with prices p and p2. Let the
11.6 (4 Points) Suppose we have a firm producing two goods in quantities q and q2 and with prices p and p2. Let the cost of producing q units of good 1 and 92 units of good 2 be given by C(91, 92) = 291 +9192 +292. The firm wants to maximise profits, i.e., solve: max p1q1 + P292 2C (91, 92) 91,92
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To maximize the profits find the values of q1 and q2 that maximize the profit function Pq1q2 where P...
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Forecasting for Economics and Business
Authors: Gloria Gonzalez Rivera
1st edition
131474936, 978-1315510415, 1315510413, 978-0131474932
