3) The marketing research department of a large manufacturing company has determined that the demand equations for two major items it produces are given by p = 2,000 - 5x + 8y and q = 4,000 +9x-7y where p is the price of item A, q is the price of item B, x is the monthly demand for item A, andy is the monthly demand for item B. Find the total monthly revenue from items A and B whenx=15 and y - 5.

3) The marketing research department of a large manufacturing company has determined that the demand equations for two major items it produces are given by p = 2,000 - 5x + 8y and q = 4,000 +9x-7y where p is the price of item A, q is the price of item B, x is the monthly demand for item A, andy is the monthly demand for item B. Find the total monthly revenue from items A and B whenx=15 and y - 5.

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

Chapter4A: Problems In Applying The Linear Regression Model

Section: Chapter Questions

Problem 3E

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