A producer of two goods G1 and G2, has a total cost function TC = 5Q1+...

 

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A producer of two goods G1 and G2, has a total cost function TC = 5Q1+ 10Q2, where Q1 and Q2 denote the quantities of G1 and G2, respectively. If P1 and P2 denote the corresponding prices, then the demand equations are P1= 50 – Q1 – Q2, P2 = 100 – Q1 – 4Q2. - a) Find the maximum profit. b) Find the maximum profit if the firm's total cost is fixed at $100. A producer of two goods G1 and G2, has a total cost function TC = 5Q1+ 10Q2, where Q1 and Q2 denote the quantities of G1 and G2, respectively. If P1 and P2 denote the corresponding prices, then the demand equations are P1= 50 – Q1 – Q2, P2 = 100 – Q1 – 4Q2. - a) Find the maximum profit. b) Find the maximum profit if the firm's total cost is fixed at $100.