Mathematics, 14.06.2021 17:00 sophiaa23
A monopoly produces two outputs, Q1 and Q2 with the linear functions: Q1=100-2p1+p2, Q2=120+3p-5p, where p and Q are price and quantity of product, respectively i=1,2
a, use Cramer’s rule to find the inverse demand function with p1,p2 as the functions of the quantities of product
b, assume that the film’s cost function takes form C =10Q1+20Q2+50. Determine quantity and price for each product to profit maximizing of the firm
Answers: 1
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A monopoly produces two outputs, Q1 and Q2 with the linear functions: Q1=100-2p1+p2, Q2=120+3p-5p, w...
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