You are the manager of a firm that produces output in two plants. The demand for your firm’s product is P = 80 – Q, where Q = Q₁+ Q₂. The marginal cost associated with producing in the two plants are MC₁ = Q₁ and MC₂ = 8. How much output should be produced in plant 1 in order to maximize profits?

		2
		4
		8
		14

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To maximize profits you should produce output in plan... View the full answer