Concept explainers
In Exercises 15-22, assume that
Two-variable revenue maximization. Rad Designs sells two kinds of sweatshirts that compete with one another. Their demand function are expressed by the following relationships:
(1)
(2)
Where
a. Find a formula for the total-revenue function, R, in terms of the variables
b. what prices
c. How many units will be demanded?
d. What is the maximum total revenue?
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Calculus and Its Applications (11th Edition)
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