The total sales, S. of a one-product firm are given by S(L,M) = ML-L2, where M is the cost of materials and L is the cost of

Question

The total sales, S. of a one-product firm are given by S(L,M) = ML-L2, where M is the cost of materials and L is the cost of labor. Find the maximum value of this function subject to the budget constraint shown below.
M+L=120
The maximum value of the sales is $

Kunduz · Accepted Answer

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