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The firm is considering manufacturing a second product in its factory alongside the first. The demand functions for the two products are: Qd1=180 - 4P1
Qd2=90 - 2P2 where the subscripts 1 and 2 refer to product 1 and product 2, respectively. The firm now faces a total cost function: TC= Q+150where Q= Q1 + Q2
a) Dtermine the new total profit function for the firm as a function of Q1 and Q2.
b) Using your new profit function measured in part (b)(i) find the level of output for every product at the profit maximising point and display your outcome is a maximum.
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You are gambling. There is a white urn in front of you, which contains a total of 100 black and white balls. You are blindfolded, get to pick one ball randomly, and see which color
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demand function(qd)=650-5p-p2 where p=10
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Factor that affect the volume of production
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