Mathematics, 28.03.2020 01:54 dmgboos6

A company operates two plants which manufacture the same item and whose total cost functions are and C₁ = 8.5 + 0.03 q₁² and C₂ = 5.2 + 0.04 q₂², where q₁ and q₂ are the quantities produced by each plant. The company is a monopoly. The total quantity demanded, q = q₁ + q₂, is related to the price, p, by p = 60 - 0.04 q. How much should each plant produce in order to maximize the company's profit?

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A company operates two plants which manufacture the same item and whose total cost functions are and...