How many of each brand should be produced to maximize profit

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Reference no: EM131801589

Qusetion: Profit suppose that a manufacturer produces two brands of a product, brand 1 and brand 2. Suppose the demand for brand 1 is x = 70 - p₁ thousand units and the demand for brand 2 is y = 80 - p₂ thousand units, where p₁ and p₂ are prices in dollars. If the joint cost function is C = xy, in thousands of dollars, how many of each brand should be produced to maximize profit? What is the maximum profit?

Reference no: EM131801589

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