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A company operates two plants which manufacture the same item and whose total cost functions are C₁ = 7.5+0.04g and C₂ = 4.6 +0.06. mere q, and q are the quantities produced by each plant. The total quantity demanded, q=q₁ +92. is related to the price, p, by p = 60 -0.069. low much should each plant produce in order to maximize the company's profit? Im 15 Adapted from M. Rosser, Basic Mathematics for Economists, p. 318 (New York: Routledge, 1993)

A company operates two plants which manufacture the same item and whose total cost functions are C₁ = 7.5+0.04g and C₂ = 4.6 +0.06. mere q, and q are the quantities produced by each plant. The total quantity demanded, q=q₁ +92. is related to the price, p, by p = 60 -0.069. low much should each plant produce in order to maximize the company's profit? Im 15 Adapted from M. Rosser, Basic Mathematics for Economists, p. 318 (New York: Routledge, 1993)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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A company operates two plants which manufacture the same item and whose total cost functions are C₁ = 7.5+0.04g and C₂ = 4.6+0.06q. where q, and q are the quantities produced by each plant. The total quantity demanded, q=q₁ +92, is related to the price, p, by p = 60 -0.06q. How much should each plant produce in order to maximize the company's profit? 91- 9- Adapted from M. Rosser, Basic Mathematics for Economists, p. 318 (New York: Routledge, 1993).
Transcribed Image Text:A company operates two plants which manufacture the same item and whose total cost functions are C₁ = 7.5+0.04g and C₂ = 4.6+0.06q. where q, and q are the quantities produced by each plant. The total quantity demanded, q=q₁ +92, is related to the price, p, by p = 60 -0.06q. How much should each plant produce in order to maximize the company's profit? 91- 9- Adapted from M. Rosser, Basic Mathematics for Economists, p. 318 (New York: Routledge, 1993).
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