A manufacturer of two goods, G1 and G2, has a joint total cost function TC given...
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A manufacturer of two goods, G1 and G2, has a joint total cost function TC given by TC = 2x + xy + 8y. Here x and y represent the quantities produced in units of G1 and G2 respectively. Let p₁ and p2 denote the price in euro of G1 and G2 respectively. The demand equations for G1 and G2 are given by P1 P1 P₁ = 100 -x + 4y and p2 = 80 + 2x - y respectively. Find an expression for the profit function is no need to simplify your answer. in terms of x and y. There [5 marks] A manufacturer of two goods, G1 and G2, has a joint total cost function TC given by TC = 2x + xy + 8y. Here x and y represent the quantities produced in units of G1 and G2 respectively. Let p₁ and p2 denote the price in euro of G1 and G2 respectively. The demand equations for G1 and G2 are given by P1 P1 P₁ = 100 -x + 4y and p2 = 80 + 2x - y respectively. Find an expression for the profit function is no need to simplify your answer. in terms of x and y. There [5 marks]
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