Total Profit Maximization
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I'm having problems figuring out how to graph the attached problem. I know it must include product transformation curves, with total cost points, as well as total revenue lines. I'm just very confused about how to even get started. I need some guidance.
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Solution Summary
Total Profit Maximization is achieved for Dairy Farm Company.
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Profit = Revenue - TC = PA * A + PB * B - TC
Where PA = 0.50 and PB = 1
By using the TC = 90 table, Profit = 0.5A + 1B - 90
We then ...
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