pes of beers, Dark-ale and Light-ale daily ith a to que beer Br very produces 2 function given by TC = 8D + DXL +3L where D is the quantity of Dark-ale beer (in kegs) (not kg), and L is the quantity of Light-ale beer (in kegs) The prices that can be charged are determined by supply and demand forces and are influenced by the quantities of each type according to the following equations: PD=53-D + L for the price $/keg for Dark-ale beer PL= = 42 + 2D - L for the price $/keg for Light-ale beer The total revenue is given by the equation: TR = PD X D + P₁ X L And the profit given by the equation: Profit = TR - TC (a) Write down the profit in terms of D and L only. (b) The total production (quantity) of both beers combined is restricted to 191 kegs. Formulate th

pes of beers, Dark-ale and Light-ale daily ith a to que beer Br very produces 2 function given by TC = 8D + DXL +3L where D is the quantity of Dark-ale beer (in kegs) (not kg), and L is the quantity of Light-ale beer (in kegs) The prices that can be charged are determined by supply and demand forces and are influenced by the quantities of each type according to the following equations: PD=53-D + L for the price $/keg for Dark-ale beer PL= = 42 + 2D - L for the price $/keg for Light-ale beer The total revenue is given by the equation: TR = PD X D + P₁ X L And the profit given by the equation: Profit = TR - TC (a) Write down the profit in terms of D and L only. (b) The total production (quantity) of both beers combined is restricted to 191 kegs. Formulate th

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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