You are the manager of a firm that produces output in two plants. The demand for your firm's product is P = 120 - 6Q, where Q = Q₁ + Q2. The marginal costs associated with producing in the two plants are MC₁ = 2Q₁ and MC₂ = 4Q2. What price should be charged to maximize profits? a. 70 Ob. 60 O c. 76 Od. 66

You are the manager of a firm that produces output in two plants. The demand for your firm's product is P = 120 - 6Q, where Q = Q₁ + Q2. The marginal costs associated with producing in the two plants are MC₁ = 2Q₁ and MC₂ = 4Q2. What price should be charged to maximize profits? a. 70 Ob. 60 O c. 76 Od. 66

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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