Finance Your company is going to produce two versions of its new video game systems, Boxy-x, B1, and Boxy-s,B2.Demand for each depends partly on the price of the other. The price for the Boxy-x and Boxy-s will berepresented by pi and p2 respectively. The demand function for the Boxy-x is:91 (P1, P2)120, 000 – 700p, + 14p2%3Dwhere q is the number of Boxy-x units that will be sold per week. The demand function for the Boxy-s is:92 (P1, P2)120, 000 + 14pi300p2where q is the number of Boxy-s units that will be sold per week. Find the prices for the Boxy-x and Boxy-sthat will maximize the total revenue.(Round your answers to the nearest hundredths place.)Pi =P2=Submit Question

Demand function for Boxy-x:q1P1, P2 = 120000 - 700P1 + 14P2Demand function for Boxy-s:q1P1, P2 =…

Your company is going to produce two versions of its new video game systems, Boxy-x,B1, and Boxy-s,B2. Demand for each depends partly on the price of the other. The price for the Boxy-x and Boxy-s will be represented by pi and p2 respectively. The demand function for the Boxy-x is: (P1, Pa) = 120, 000 - 700p, + 14p2 where q is the number of Boxy-x units that will be sold per week. The demand function for the Boxy-s is: 2(P1, P2) = 120, 000 + 14pi - 300p2 %3D where q is the number of Boxy-s units that will be sold per week, Find the prices for the Boxy-x and Boxy-s that will maximize the total revenue.

Your company is going to produce two versions of its new video game systems, Boxy-x,B1, and Boxy-s,B2. Demand for each depends partly on the price of the other. The price for the Boxy-x and Boxy-s will be represented by pi and p2 respectively. The demand function for the Boxy-x is: (P1, Pa) = 120, 000 - 700p, + 14p2 where q is the number of Boxy-x units that will be sold per week. The demand function for the Boxy-s is: 2(P1, P2) = 120, 000 + 14pi - 300p2 %3D where q is the number of Boxy-s units that will be sold per week, Find the prices for the Boxy-x and Boxy-s that will maximize the total revenue.

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

Chapter14: Pricing Techniques And Analysis

Section: Chapter Questions

Problem 7E

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