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Finding the optimal points

The cost to produce each of two products is dependent on the quanity in order to maximize profits.

Product a sells for $10,000 a unit and product 2 sells for $12,000 a unit. Fixed cost is $2,000 for each product find the optimal points.

c₁ = x₁ + x₂ (in thousands of dollars)

c₂= 2x₂+ x₁(in thousands of dollars)

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Basic Statistics: Finding the optimal points

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Solution Preview :

Prepared by a verified Expert

Basic Statistics: Finding the optimal points

Reference No:- TGS01617076

Have a Question? (oR Write a Review)

Recent Questions Asked Basic Statistics

Q : Consequences of the risks

Q : Optimal performance of the system

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Solution Preview :

Prepared by a verified Expert

Basic Statistics: Finding the optimal points

Reference No:- TGS01617076

Recent Questions Asked Basic Statistics

Q : Consequences of the risks

Q : Optimal performance of the system

Q : How the look and feel differs ease of navigation

Q : Continuous and discrete variables

Q : Finding the optimal points

Q : Designing a hedging strategy

Q : Quantitative measurement with qualitative measurement

Q : Drawinig inference about a large population

Q : Individuals change management proposal

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