Question: Consider the constrained optimization problem as: Maximize = - 60 + 140Q1 + 100Q2 - 10Q 2 1 - 8Q 2 2 - 6Q1Q2 subject

Consider the constrained optimization problem as: Maximize = - 60 + 140Q1 + 100Q2 - 10Q 2 1 - 8Q 2 2 - 6Q1Q2 subject to 20Q1 - 40Q2 = 200 a. Find the optimal solution (good 1: Q1 and good 2: Q2) to the constrained profit maximization problem. Further, draw the diagram and show the optimal solution points of above Constrained Profit Maximization. b. Verify the above the optimal solution (good 1: Q1 and good 2: Q2) to the constrained profit maximization problem with Lagrangian multiplier technique.

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