ACME Thingamjigs ltd. produces two types of thingamajigs, Type 1 and Type 2. The demand for equations for these Thingamajigs are 91 120 1.5p₁ + P₂ and 92 = 100 + 2p1 - 3p2 where p₁ and på are the prices that ACME sets for Type 1 and Type 2 Thingamajigs, respectively, and ₁ and 2 are the corresponding weekly demands for these goods. ACME's weekly production cost is given by c = 40q₁ +30q2 + 2000. The prices that ACME should set to maximize their weekly profit are n*

ACME Thingamjigs ltd. produces two types of thingamajigs, Type 1 and Type 2. The demand for equations for these Thingamajigs are 91 120 1.5p₁ + P₂ and 92 = 100 + 2p1 - 3p2 where p₁ and på are the prices that ACME sets for Type 1 and Type 2 Thingamajigs, respectively, and ₁ and 2 are the corresponding weekly demands for these goods. ACME's weekly production cost is given by c = 40q₁ +30q2 + 2000. The prices that ACME should set to maximize their weekly profit are n*

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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