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A company manufactures two products. If it charges price pi for product i, it can sell qi units of product i, where q1 = 60 - 3p1 + p2 and q2 = 80 - 2p2 + p1. It costs $5 to produce a unit of product 1 and $12 to produce a unit of product 2. How many units of each product should the company produce, and what prices

A company manufactures two products. If it charges price pi for product i, it can sell qi units of product i, where q1 = 60 - 3p1 + p2 and q2 = 80 - 2p2 + p1. It costs $5 to produce a unit of product 1 and $12 to produce a unit of product 2. How many units of each product should the company produce, and what prices

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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A company manufactures two products. If it charges
price pi for product i, it can sell qi units of product i,
where q1 = 60 - 3p1 + p2 and q2 = 80 - 2p2 + p1. It
costs $5 to produce a unit of product 1 and $12 to produce a unit of product 2. How many units of each
product should the company produce, and what prices
should it charge, to maximize its profit? Use spreadsheet modelling in Excel

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