Q1 = (4310/22) - (P1/22) %3D Q2 = (5021/17) - (P2/17) %D TC = 760 + 14Q1 + 32Q2 %D Forme the

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Chapter1: Making Economics Decisions
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Q1 = (4310/22) - (P1/22)
%3D
Q2 = (5021/17) - (P2/17)
TC = 760 + 14Q1 + 32Q2
%3D
Form the profit equation, n and solve for the
critical values.
(a) What is the critical value of Q1?
(b) What is the critical value of Q2?
(c) What is the value of |H2|?
(d) What is the value of maximum profit?
( (Give your answer to two decimal places,
necessary)
Transcribed Image Text:Q1 = (4310/22) - (P1/22) %3D Q2 = (5021/17) - (P2/17) TC = 760 + 14Q1 + 32Q2 %3D Form the profit equation, n and solve for the critical values. (a) What is the critical value of Q1? (b) What is the critical value of Q2? (c) What is the value of |H2|? (d) What is the value of maximum profit? ( (Give your answer to two decimal places, necessary)
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