A Company manufactures and markets three products
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A Company manufactures and markets three products

Question:

A Company manufactures and markets three products X, Y and Z. All the three products are manufactured from the same set of machines. Production is limited by machine capacity. From the data given below, indicate the priorities for Product X, Y and Z with a view to maximizing profits.


Hint
Accounts & FinanceProfit maximization is the short run or long run process by which an organisation may determine the price, input and output levels that lead to the highest profits.  A firm maximizes profit by operating where marginal revenue equals marginal cost. Marginal cost is calculated by taking the derivative of total cost with respect to quantity...

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