Question: 2. Consider the following inverse demand functions for two different goods produced by the same firm. A-450-50, P-600-100 The firm has a cost function

2. Consider the following inverse demand functions for two different goods produced

2. Consider the following inverse demand functions for two different goods produced by the same firm. A-450-50, P-600-100 The firm has a cost function represented by the following TC(Q.Q)-30 + 20.0 +60 + 400 a. Using the method of your choosing, determine what quantity should the firm produce in order to maximize profits? (15 points) b. Management informs you that due to production constraints, the product of the two goods cannot by greater than 300. What is the quantity that maximizes profits in this scenario? (10 points)

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