Answer to Question #288030 in Microeconomics for Shreya

Question

A company produces two goods X and Y. The profit function of the company is given as follows:

P = I00X- 2X2 - XY + 180Y – 4Y2

The company is under obligation to produce a minimum combined output of 30 units. Find the output of X and Y subject to a total of 30 units that maximize total profit by using Lagrangian multiplier methods.

Answer 1

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