Two products are manufactured in quantities $q_1$ and $q_2$ and sold at prices $8 and $12 respectively. The cost of producing them is given by $C = q_1^2 + 2q_2^2 + 8$. Find the maximum profit that can be made.
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The revenue is given by the product of the quantity sold and the selling price. Therefore, the profit function P(q1, q2) can be expressed as: P(q1, q2) = (8q1 + 12q2) - (q1^2 + 2q2^2 + 8) Show more…
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