Find p1 and p2, the prices per unit (in dollars), so as to maximize the total revenue R = X1P1 + X2P2 where x1 and x2 are the numbers of units sold, for a retail outlet that sells two competitive products with the given demand functions. X1 = 2300 – 4p1 + 2p2, x2 = 2100 + 4p1 – 3p2 P1 = $ P2 = $
Find p1 and p2, the prices per unit (in dollars), so as to maximize the total revenue R = X1P1 + X2P2 where x1 and x2 are the numbers of units sold, for a retail outlet that sells two competitive products with the given demand functions. X1 = 2300 – 4p1 + 2p2, x2 = 2100 + 4p1 – 3p2 P1 = $ P2 = $
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter12: Algebra Of Matrices
Section12.CR: Review Problem Set
Problem 37CR
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