Goods A and goods B are produced and sold by the company according to the following equation: P₁ = 200-0.5Q1+Q2 and P₂ = 250+ 0.5Q1-3Q2 The costs incurred are as follows: TC=2Q1²+Q2² + 10Q1 + 50Q2 + 200 a. Using Cramer's rule determine the quantity and price of good A and good B in order to achieve maximum profit b. With the Hessian determinant what is the maximum profit for goods A dan B? c. If Q1+Q2=10 then what is the maximum profit?
Goods A and goods B are produced and sold by the company according to the following equation: P₁ = 200-0.5Q1+Q2 and P₂ = 250+ 0.5Q1-3Q2 The costs incurred are as follows: TC=2Q1²+Q2² + 10Q1 + 50Q2 + 200 a. Using Cramer's rule determine the quantity and price of good A and good B in order to achieve maximum profit b. With the Hessian determinant what is the maximum profit for goods A dan B? c. If Q1+Q2=10 then what is the maximum profit?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Goods A and goods B are produced and sold by the company according to the following
equation:
P₁ = 200-0.5Q1+Q2 and P₂ = 250+ 0.5Q1-3Q2
The costs incurred are as follows:
TC = 201² + Q2² + 10Q1 +50Q2 + 200
a. Using Cramer's rule determine the quantity and price of good A and good B in order to achieve
maximum profit
b. With the Hessian determinant what is the maximum profit for goods A dan B?
c. If Q1+Q2=10 then what is the maximum profit?
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