A cloth manufacturer produces two types of cloth, A and B. His profit function is: Profit =

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A cloth manufacturer produces two types of cloth, A and B.

His profit function is: Profit = 128A -4A2 + 8AB +64B -28 – 8B2

What should be the level of output of A and B to maximize profit?

Related Book For answer-question

Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science

ISBN: 978-0324656633

5th edition

Authors: Cliff T. Ragsdale

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Posted Date: Mar 01, 2024 10:43 PM

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A cloth manufacturer produces two types of cloth, A and B. His profit function is: Profit =

Question:

Expert Answer:

To maximize profit we need to find the values of A and B that maximize the profit function Profit 12... View the full answer

Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science

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