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Your company manufactures two models of stereo speakers, the Ultra Mini and the Big Stack. Demand for each depends partly on the price of the other. If one is expensive, then more people will buy the other. If p, is the price of the Ultra Mini and P2 is the price of the Big Stack, demand for the Ultra Mini is given by 91 (P1, P2) = 50,000 – 100p1 + 10p2 %3D where q, represents the number of Ultra Minis that will be sold in a year. The demand for the Big Stack is given by 92 (P1. P2) = 150,000 + 10p, – 100p2 92 represents the number of Big Stacks that will be sold in a year. Find the prices for the Ultra Mini and the Big Stack that will maximize your total revenue. where

Your company manufactures two models of stereo speakers, the Ultra Mini and the Big Stack. Demand for each depends partly on the price of the other. If one is expensive, then more people will buy the other. If p, is the price of the Ultra Mini and P2 is the price of the Big Stack, demand for the Ultra Mini is given by 91 (P1, P2) = 50,000 – 100p1 + 10p2 %3D where q, represents the number of Ultra Minis that will be sold in a year. The demand for the Big Stack is given by 92 (P1. P2) = 150,000 + 10p, – 100p2 92 represents the number of Big Stacks that will be sold in a year. Find the prices for the Ultra Mini and the Big Stack that will maximize your total revenue. where

Algebra for College Students
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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Your company manufactures two models of stereo speakers, the Ultra Mini and the Big Stack. Demand for each depends partly on the price of the other. If one is expensive, then more people will buy the other. If p, is the price of the Ultra Mini and P2 is the price of the Big Stack, demand for the Ultra Mini is given by 91 (P1, P2) = 50,000 – 100p1 + 10p2 %3D where q, represents the number of Ultra Minis that will be sold in a year. The demand for the Big Stack is given by 92 (P1. P2) = 150,000 + 10p, – 100p2 92 represents the number of Big Stacks that will be sold in a year. Find the prices for the Ultra Mini and the Big Stack that will maximize your total revenue. where
Transcribed Image Text:Your company manufactures two models of stereo speakers, the Ultra Mini and the Big Stack. Demand for each depends partly on the price of the other. If one is expensive, then more people will buy the other. If p, is the price of the Ultra Mini and P2 is the price of the Big Stack, demand for the Ultra Mini is given by 91 (P1, P2) = 50,000 – 100p1 + 10p2 %3D where q, represents the number of Ultra Minis that will be sold in a year. The demand for the Big Stack is given by 92 (P1. P2) = 150,000 + 10p, – 100p2 92 represents the number of Big Stacks that will be sold in a year. Find the prices for the Ultra Mini and the Big Stack that will maximize your total revenue. where
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