5. A company produces two versions of a product. We denote by q₁ the amount sold of the first version andby q2 the amount sold of the second version (expressed in some non-specified unit). The joint weeklyproduction (i.e., for both products together) equals 16 units, which we assume sell out completely duringthe week. The inverse demand functions for both versions of the product are given by p₁ = 14 − 91and p2 = 36 - 3q2, respectively. The unit prices p₁ and p2 are expressed in some monetary unit.a. Find the function equation that expresses the weekly revenue R in terms of q₁ only.b. Find the domain of the revenue function R. (Take all aspects of the market into consideration!)c. Find the minimum and the maximum weekly revenue. Determine in each case the amounts soldof both versions of the product and the corresponding unit prices.

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5. A company produces two versions of a product. We denote by q₁ the amount sold of the first version and by 92 the amount sold of the second version (expressed in some non-specified unit). The joint weekly production (i.e., for both products together) equals 16 units, which we assume sell out completely during the week. The inverse demand functions for both versions of the product are given by p₁ = 14 - 9₁ and p2 = 36 392, respectively. The unit prices p₁ and p2 are expressed in some monetary unit. a. Find the function equation that expresses the weekly revenue R in terms of q₁ only. b. Find the domain of the revenue function R. (Take all aspects of the market into consideration!) c. Find the minimum and the maximum weekly revenue. Determine in each case the amounts sold of both versions of the product and the corresponding unit prices.

5. A company produces two versions of a product. We denote by q₁ the amount sold of the first version and by 92 the amount sold of the second version (expressed in some non-specified unit). The joint weekly production (i.e., for both products together) equals 16 units, which we assume sell out completely during the week. The inverse demand functions for both versions of the product are given by p₁ = 14 - 9₁ and p2 = 36 392, respectively. The unit prices p₁ and p2 are expressed in some monetary unit. a. Find the function equation that expresses the weekly revenue R in terms of q₁ only. b. Find the domain of the revenue function R. (Take all aspects of the market into consideration!) c. Find the minimum and the maximum weekly revenue. Determine in each case the amounts sold of both versions of the product and the corresponding unit prices.

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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5. A company produces two versions of a product. We denote by q₁ the amount sold of the first version and
by q2 the amount sold of the second version (expressed in some non-specified unit). The joint weekly
production (i.e., for both products together) equals 16 units, which we assume sell out completely during
the week. The inverse demand functions for both versions of the product are given by p₁ = 14 − 91
and p2 = 36 - 3q2, respectively. The unit prices p₁ and p2 are expressed in some monetary unit.
a. Find the function equation that expresses the weekly revenue R in terms of q₁ only.
b. Find the domain of the revenue function R. (Take all aspects of the market into consideration!)
c. Find the minimum and the maximum weekly revenue. Determine in each case the amounts sold
of both versions of the product and the corresponding unit prices.

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