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A company manufactures 2 models of MP3 players. Let x represent the number (in millions) of the first model made, and let y represent the number (in millions) of the second model made. The company's revenue can be modeled by the equation R(x, y) = 130x + 60y - 4x² - 3y² – xy Find the marginal revenue equations R₂(x, y) = Ry(x, y) = We can acheive maximum revenue when both partial derivatives are equal to zero. Set R₂ = 0 and Ry = 0 and solve as a system of equations to the find the production levels that will maximize revenue. Revenue will be maximized when: X = y = Calculator Check Answer

A company manufactures 2 models of MP3 players. Let x represent the number (in millions) of the first model made, and let y represent the number (in millions) of the second model made. The company's revenue can be modeled by the equation R(x, y) = 130x + 60y - 4x² - 3y² – xy Find the marginal revenue equations R₂(x, y) = Ry(x, y) = We can acheive maximum revenue when both partial derivatives are equal to zero. Set R₂ = 0 and Ry = 0 and solve as a system of equations to the find the production levels that will maximize revenue. Revenue will be maximized when: X = y = Calculator Check Answer

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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A company manufactures 2 models of MP3 players. Let x represent the number (in millions) of the first model made, and let y represent the number (in millions) of the second model made. The company's revenue can be modeled by the equation R(x, y) 130x + 60y - 4x² - 3y² - xy Find the marginal revenue equations Rx (x, y) = = R₂(x, y) = We can acheive maximum revenue when both partial derivatives are equal to zero. Set R = 0 and Ry = 0 and solve as a system of equations to the find the production levels that will maximize revenue. Revenue will be maximized when: X= y= Calculator Check Answer
Transcribed Image Text:A company manufactures 2 models of MP3 players. Let x represent the number (in millions) of the first model made, and let y represent the number (in millions) of the second model made. The company's revenue can be modeled by the equation R(x, y) 130x + 60y - 4x² - 3y² - xy Find the marginal revenue equations Rx (x, y) = = R₂(x, y) = We can acheive maximum revenue when both partial derivatives are equal to zero. Set R = 0 and Ry = 0 and solve as a system of equations to the find the production levels that will maximize revenue. Revenue will be maximized when: X= y= Calculator Check Answer
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