The quantity of a product demanded by consumers is a function of its price. The quantity of one product demanded may also depend on the price of other products. For example, if the only chocolate shop in town (a monopoly) sells milk and dark chocolates, the price it sets for each affects the demand of the other. The quantities demanded, q, and q2. of two products depend on their prices, p1 and P2, as follows: 91 %3D 160 — Зр1 — 2р2 92%3D 160 — 2р1 — 4p2- If one manufacturer sells both products, how should the prices be set to generate the maximum possible revenue? What is that maximum possible revenue? Enter the exact answers. Pi = P2 = The maximum revenue is
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
![The quantity of a product demanded by consumers is a function of its price. The quantity of one product demanded may also depend
on the price of other products. For example, if the only chocolate shop in town (a monopoly) sells milk and dark chocolates, the price
it sets for each affects the demand of the other. The quantities demanded, q, and q2. of two products depend on their prices, p1 and
P2, as follows:
9 %3D 160 — Зр] — 2р.
92 = 160 – 2p1 – 4p2.
If one manufacturer sells both products, how should the prices be set to generate the maximum possible revenue? What is that
maximum possible revenue?
Enter the exact answers.
Pi =
P2 =
%3D
The maximum revenue is](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa9b4f571-825b-41b9-ba31-efcae3235105%2F8c680b8f-276e-495c-a588-0c58869b58d1%2Fo6rmdkm_processed.png&w=3840&q=75)
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