Question: Please use Excel and Solver to Solve this, and please provide screenshots with formulas and explain step by step: A company manufactures two products. If
Please use Excel and Solver to Solve this, and please provide screenshots with formulas and explain step by step:
A company manufactures two products. If it charges price pi for product i, it can sell qi units of product i, where q1 = 60 3p1 + p2 and q2 = 80 2p2 + p1 . It costs $5 to produce a unit of product 1 and $12 to produce a unit of product 2. How many units of each product should the company produce, and what prices should it charge, to maximize its profit?
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