You are the manager of a firm that produces output in two plants. The demand for your firm’s product is P = 120 – 6Q where Q = Q1 + Q2. The marginal cost associated with producing in the two plants are MC1 = 2Q1 and MC2 = 4Q2. What price should be charged to maximize profits? I know the answer is 66. However, I need step by step instruction on how you get this answer. I do not understand how to do this problem and get the answer.
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