Consider the profit getting from selling x and y units of two commodities is given by as follows: i. P(x, y) = −0.1x2 - 0.2xy - 0.2y2 + 47x + 48y - 600. Find out the production levels for x and y that maximizes the profit. ii. Now assume that the total production is limited to 200 units. Find out the production levels that maximizes the profits

Consider the profit getting from selling x and y units of two commodities is given by as follows: i. P(x, y) = −0.1x2 - 0.2xy - 0.2y2 + 47x + 48y - 600. Find out the production levels for x and y that maximizes the profit. ii. Now assume that the total production is limited to 200 units. Find out the production levels that maximizes the profits

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter4: Markets In Action

Section: Chapter Questions

Problem 8SQP

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