A firms total profit is given by ???? = 20x x 2 + 16y 2y

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A firm’s total profit is given by ???? = 20x − x² + 16y − 2y².

a. What values of x and y will maximize the firm’s profit?

b. Repeat part a assuming the firm faces the constraint x + y ≤ 8.

c. Repeat part a assuming the constraint is x + .5y ≤ 7.5.

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Managerial Economics

ISBN: 978-1118808948

8th edition

Authors: William F. Samuelson, Stephen G. Marks

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Question Posted: May 03, 2017 08:24 AM

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A firms total profit is given by ???? = 20x x 2 + 16y 2y

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a 20x x 2 16y 2y 2 Setting d dx 0 and d dy 0 implies x 10 and y 4 b The Lagra...View the full answer

Managerial Economics

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