# How to solve the following equations

Oct 18th, 2015
RockCafe
Category:
Economics
Price: \$5 USD

Question description

The Max Inc. is a company that manufactures two products, shirts and trousers. The
relationship between the company’s profit, π (in millions of dollars), and its output of each
good is:
π = -60+ 20Q
1
+ 80Q
2
- 8Q
2
1
- 12Q
2
2
- 4Q
1
,
where Q
1
Q
2
is the company’s annual output of shirts (in millions) and Q
2
is the company’s annual
output of trousers (in millions of pairs).
a) Determine the output of each good that the Max Inc. company should produce in order to
maximize its profits.

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