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10 Nov 2019
A company operates two plants which manufacture the same item and whose total cost functions are C1 = 8.5 + 0.03 and C2 = 5.2 + 0.04 ,where q1 and q2 are the quantities produced by each plant. The total quantity demanded, q = q1 + q2, is related to the price, p, by p = 60 - 0.04q. How much should each plant produce in order to maximize the company's profit? 5
A company operates two plants which manufacture the same item and whose total cost functions are C1 = 8.5 + 0.03 and C2 = 5.2 + 0.04 ,where q1 and q2 are the quantities produced by each plant. The total quantity demanded, q = q1 + q2, is related to the price, p, by p = 60 - 0.04q. How much should each plant produce in order to maximize the company's profit? 5
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