A firm produces two types of calculators each week, x of type A and y of type B. The weekly revenue and cost functions (in dollars) are as follows. R(x,y)=130x+160y+0.02xy−0.08x2−0.03y2 C(x,y)=2x+4y+30,000 Find Px(1300,1600) and Py(1300,1600), and interpret the results. Px(1300,1600)=
A firm produces two types of calculators each week, x of type A and y of type B. The weekly revenue and cost functions (in dollars) are as follows. R(x,y)=130x+160y+0.02xy−0.08x2−0.03y2 C(x,y)=2x+4y+30,000 Find Px(1300,1600) and Py(1300,1600), and interpret the results. Px(1300,1600)=
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 27EQ
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Question
A firm produces two types of calculators each week, x of type A and y of type B. The weekly revenue and cost functions (in dollars) are as follows.
R(x,y)=130x+160y+0.02xy−0.08x2−0.03y2
C(x,y)=2x+4y+30,000
Find
Px(1300,1600)
and
Py(1300,1600),
and interpret the results.Px(1300,1600)=
Choose the correct interpretation of
Px(1300,1600).
When selling
1,300
units of type A and
1,600
units of type B, the profit will
decrease
approximately
$54
per unit increase in production of type A.When selling
1,300
units of type A and
1,600
units of type B, the profit will
decrease
approximately
$48
per unit increase in production of type A.Selling
1,300
units of type A and
1,600
units of type B will yield a profit of approximately $48.Selling
1,300
units of type A and
1,600
units of type B will yield a profit of approximately $54.Py(1300,1600)=
Choose the correct interpretation of
Py(1300,1600).
When selling
1,300
units of type A and
1,600
units of type B, the profit will
increase
approximately
$92
per unit increase in production of type B.Selling
1,300
units of type A and
1,600
units of type B will yield a profit of approximately $86.Selling
1,300
units of type A and
1,600
units of type B will yield a profit of approximately $92.When selling
1,300
units of type A and
1,600
units of type B, the profit will
increase
approximately
$86
per unit increase in production of type B.Expert Solution
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