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 = 4000 − 4p1 + 2p2, x2 = 900 + 4p1 − 3p2
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 = 4000 − 4p1 + 2p2, x2 = 900 + 4p1 − 3p2
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.CR: Review Problem Set
Problem 50CR
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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 = 4000 − 4p1 + 2p2, x2 = 900 + 4p1 − 3p2
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