Monopoly firm sells two different brands of product

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[Multi-product Monopoly Profit Maximization-I] A monopoly firm sells two different brands of a product for which the demand functions are Q1 = 14−0.25P1, Q2 = 24−0.5P2, and the cost function for the firm is C(Q1,Q2) = Q 2 1 +5Q1Q2 +Q 2 2. Find the profit maximizing output levels Q1 and Q2 and also the maximum profit.

Reference no: EM131788878

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