Q1 = (4310/22) - (P1/22)%3DQ2 = (5021/17) - (P2/17)TC = 760 + 14Q1 + 32Q2%3DForm the profit equation, n and solve for thecritical values.(a) What is the critical value of Q1?(b) What is the critical value of Q2?(c) What is the value of |H2|?(d) What is the value of maximum profit?( (Give your answer to two decimal places,necessary)

Answers The demand functions are given as, Q1 = (4310/22) - (P1/22) or, P1 = 4310 -…

Answered: Q1 = (4310/22) - (P1/22) %3D Q2 =…

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Q1 = (4310/22) - (P1/22) %3D Q2 = (5021/17) - (P2/17) %D TC = 760 + 14Q1 + 32Q2 %D Forme the

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Q1 = (4310/22) - (P1/22)
%3D
Q2 = (5021/17) - (P2/17)
TC = 760 + 14Q1 + 32Q2
%3D
Form the profit equation, n and solve for the
critical values.
(a) What is the critical value of Q1?
(b) What is the critical value of Q2?
(c) What is the value of |H2|?
(d) What is the value of maximum profit?
( (Give your answer to two decimal places,
necessary)

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