please answer attached question with full mathematical explanation Banana Brothers, manufactures two types of Y Blocks: The Alfa and the Beta. Denoting Alfa output as Q1and Beta output as Q2, the company has estimated the following demand equation for its Blocks:Q= 10 - 0.2P, - 0.4Q2Q2 = 20 - 0.5P2 - 2Q1The total cost equation for producing Alfa and Beta areTC, = 4 + 20,?TC2 = 8 + 6Q,?a) If Banana Brothers is a profit-maximizing firm, how much should it charge for Alfa and Beta?b) What is the profit maximizing level of output for Alfa and Beta?c) What is Banana Brother's profit?

Banana Brothers, manufactures two types of Y Blocks: The Alfa and the Beta. Denoting Alfa output as Q1 and Beta output as Q2, the company has estimated the following demand equation for its Blocks: Qq= 10 - 0.2P1 - 0.4Q2 Q2 = 20 - 0.5P2 - 2Q1 The total cost equation for producing Alfa and Beta are TC, = 4 + 2Q,2 TC2 = 8 + 6Q,? a) If Banana Brothers is a profit-maximizing firm, how much should it charge for Alfa and Beta? b) What is the profit maximizing level of output for Alfa and Beta?

Banana Brothers, manufactures two types of Y Blocks: The Alfa and the Beta. Denoting Alfa output as Q1 and Beta output as Q2, the company has estimated the following demand equation for its Blocks: Qq= 10 - 0.2P1 - 0.4Q2 Q2 = 20 - 0.5P2 - 2Q1 The total cost equation for producing Alfa and Beta are TC, = 4 + 2Q,2 TC2 = 8 + 6Q,? a) If Banana Brothers is a profit-maximizing firm, how much should it charge for Alfa and Beta? b) What is the profit maximizing level of output for Alfa and Beta?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter10: Prices, Output, And Strategy: Pure And Monopolistic Competition

Section: Chapter Questions

Problem 8E

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