4. A decorator, who is a monopolist, makes two types of specialty picture frames. From experience, the decorator has determined that if x frames of the first type and y frames of the second type are made and put on sale in a showroom, they can be sold for (100– 2x) dollars and (120- 3y) dollars each, respectively. The total cost of constructing these frames is (12x + 12y +4xy) dollars. How many frames of each type should be produced to realize the maximum profit, and what is the maximum profit? Make sure to verify that this is indeed a maximum. 4
4. A decorator, who is a monopolist, makes two types of specialty picture frames. From experience, the decorator has determined that if x frames of the first type and y frames of the second type are made and put on sale in a showroom, they can be sold for (100– 2x) dollars and (120- 3y) dollars each, respectively. The total cost of constructing these frames is (12x + 12y +4xy) dollars. How many frames of each type should be produced to realize the maximum profit, and what is the maximum profit? Make sure to verify that this is indeed a maximum. 4
Chapter1: Making Economics Decisions
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![4. A decorator, who is a monopolist, makes two types of specialty picture frames. From experience,
the decorator has determined that if x frames of the first type and y frames of the second type
are made and put on sale in a showroom, they can be sold for (100– 2x) dollars and (120- 3y)
dollars each, respectively.
The total cost of constructing these frames is (12x + 12y +4xy) dollars. How many frames of
each type should be produced to realize the maximum profit, and what is the maximum profit?
Make sure to verify that this is indeed a maximum.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F16110b7c-2dd3-496e-89f2-099afc9c9e4c%2F66d95bf0-0ac3-4370-a790-1843baee8019%2Fjjcn3rs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4. A decorator, who is a monopolist, makes two types of specialty picture frames. From experience,
the decorator has determined that if x frames of the first type and y frames of the second type
are made and put on sale in a showroom, they can be sold for (100– 2x) dollars and (120- 3y)
dollars each, respectively.
The total cost of constructing these frames is (12x + 12y +4xy) dollars. How many frames of
each type should be produced to realize the maximum profit, and what is the maximum profit?
Make sure to verify that this is indeed a maximum.
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