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4. Boxowitz, Inc., a computer firm, markets two kinds of calculators that compete with one another. Their demand functions are expressed by the following relationships: 91 64 4p₁ - 2P2 = and - 92 56 2p1 - 4P2. where p₁ and p2 are the prices of the calculators, in multiples of $10 (this information can be skipped, it is needed only to the answer), and q1 and q2 are the quantities of the calculators demanded, in hundreds of units. What prices p₁ and P2 should be charged for each product in order to maximize total revenue? What is the maximum total revenue?

4. Boxowitz, Inc., a computer firm, markets two kinds of calculators that compete with one another. Their demand functions are expressed by the following relationships: 91 64 4p₁ - 2P2 = and - 92 56 2p1 - 4P2. where p₁ and p2 are the prices of the calculators, in multiples of $10 (this information can be skipped, it is needed only to the answer), and q1 and q2 are the quantities of the calculators demanded, in hundreds of units. What prices p₁ and P2 should be charged for each product in order to maximize total revenue? What is the maximum total revenue?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Provide step by step solution with calculations for only task number 4
Variant 4 (extra). 1. Find the partial derivatives of: =(x,y)=9sin.x-5x²y³ +7+ ycosx+e³ 2. Given z(x, y) = x².3√/y+ex-y +. find 5 3. Find the local extrema of the given function z(x,y)= x³ - 8y³ -12xy + 18 0³ = ôxôy? 4. Boxowitz, Inc., a computer firm, markets two kinds of calculators that compete with one another. Their demand functions are expressed by the following relationships: 91 = 64 4p1 - 2P2 and 92 56 2p1 - 4P2. where p₁ and p2 are the prices of the calculators, in multiples of $10 (this information can be skipped, it is needed only to the answer), and q1 and q2 are the quantities of the calculators demanded, in hundreds of units. What prices p₁ and p2 should be charged for each product in order to maximize total revenue? What is the maximum total revenue? 5. The golf ball manufacturer, Pro-T, has developed a profit model that depends on the number x of golf balls sold per month (measured in thousands), and the number of hours per month of advertising y, according to the function P= f(x, y) = 48x +96y-x² - 2xy - 9y², where P is measured in thousands of dollars. The budgetary constraint function relating the cost of the production of thousands golf balls and advertising units is given by 20x + 4y = 216. Find the values of x and y that maximize profit, and find the maximum profit.
Transcribed Image Text:Variant 4 (extra). 1. Find the partial derivatives of: =(x,y)=9sin.x-5x²y³ +7+ ycosx+e³ 2. Given z(x, y) = x².3√/y+ex-y +. find 5 3. Find the local extrema of the given function z(x,y)= x³ - 8y³ -12xy + 18 0³ = ôxôy? 4. Boxowitz, Inc., a computer firm, markets two kinds of calculators that compete with one another. Their demand functions are expressed by the following relationships: 91 = 64 4p1 - 2P2 and 92 56 2p1 - 4P2. where p₁ and p2 are the prices of the calculators, in multiples of $10 (this information can be skipped, it is needed only to the answer), and q1 and q2 are the quantities of the calculators demanded, in hundreds of units. What prices p₁ and p2 should be charged for each product in order to maximize total revenue? What is the maximum total revenue? 5. The golf ball manufacturer, Pro-T, has developed a profit model that depends on the number x of golf balls sold per month (measured in thousands), and the number of hours per month of advertising y, according to the function P= f(x, y) = 48x +96y-x² - 2xy - 9y², where P is measured in thousands of dollars. The budgetary constraint function relating the cost of the production of thousands golf balls and advertising units is given by 20x + 4y = 216. Find the values of x and y that maximize profit, and find the maximum profit.
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