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QUESTION
You are the manager of a firm that produces output in two plants. The demand for your firm's product is P = 78 - 15Q, where Q = Q1 + Q2.
WHAT PRICE SHOULD BE CHARGED TO MAXIMIZE PROFITS? SHOW STEP BY STEP CALCULATIONS TO ARRIVE AT SOLUTION.
You are the manager of a firm that produces output in 2 plants. The demand for your firm’s product is P = 78 15Q, where Q = Q1 + Q2. The marginal cost associated with producing in 2 plants are...