. American Export Import Shipping Company operates a general cargo carrier service between New York and several Western European ports. It hauls two major categories of freight: manufactured items and semimanufactured raw materials. The demand functions for these two classes of goods are:
where Q1= tons of freight moved. The total cost function for American is
b. What are the profit maximizing levels of price and output for the two freight categories?
This question was answered on: Sep 21, 2023
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