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Determine the level of output of commodity

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Reference no: EM132007987

Given the following total profit function: π = 144X - 3X^2 - XY -2Y^2 + 120Y -35

1. Determine the level of output of each commodity at which the firm maximizes its total profit

2. Determine the value of the maximum amount of total profit of the firm.

Please explain and show work.

Reference no: EM132007987

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