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    Determine the maximum profit

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    Please help with the following solution regarding production and maximum provide. Provide step by step calculations in the completed solution.

    A firm produces two goods 1 and 2 and has the following cost function
    C = 10Q1 + Q1Q2 + 10Q2

    Where Q1 and Q2 denote quantities of good 1 and 2. P1 and P2 denote the corresponding prices and the demand functions are:

    P1 = 50 - Q1 + Q2
    P2 = 30 + 2Q1 - Q2

    Determine the maximum profit if the firm in total produces 15 units, that is if Q1 + Q2 = 15.

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    https://brainmass.com/economics/production/determine-maximum-profit-425396

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    Problem: A firm produces two goods 1 and 2 and has the following cost function
    C = 10Q1 + Q1Q2 + 10Q2

    Where Q1 and Q2 denote quantities of good 1 and 2. P1 and P2 denote the corresponding prices and the demand functions are:

    P1 = 50 - Q1 + Q2
    P2 = 30 + 2Q1 - Q2

    Determine the maximum profit if the firm in total ...

    Solution Summary

    This solution helps determine the maximum profit in this case of production given cost functions, demand function, and total production amount. Step by step calculations are provided.

    $2.19

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