A company manufactures two products. If it charges price pi for product i, it can sell qi units of product i, where q1 = 80 – 2p1 + p2 and q2 = 100 – 3p2 + p1. It costs $8 to produce a unit of product 1 and $15 to produce a unit of product 2. a. How many units of each product should the company produce to maximize its profit? If needed, round your answers to one decimal digit. Product 1 Product 2 Production quantities b. What prices should the company charge to maximize its profit? If needed, round your answers to the nearest cent. Product 1 Product 2 Prices $
A company manufactures two products. If it charges price pi for product i, it can sell qi units of product i, where q1 = 80 – 2p1 + p2 and q2 = 100 – 3p2 + p1. It costs $8 to produce a unit of product 1 and $15 to produce a unit of product 2. a. How many units of each product should the company produce to maximize its profit? If needed, round your answers to one decimal digit. Product 1 Product 2 Production quantities b. What prices should the company charge to maximize its profit? If needed, round your answers to the nearest cent. Product 1 Product 2 Prices $
Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter3: Graphing Linear Functions
Section3.1: Functions
Problem 44E
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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 = 80 – 2p1 + p2 and q2 = 100 – 3p2 + p1. It costs $8 to produce a unit of product 1 and $15 to produce a unit of product 2.
a. How many units of each product should the company produce to maximize its profit? If needed, round your answers to one decimal digit.
Product 1 | Product 2 | |||
Production quantities |
b. What prices should the company charge to maximize its profit? If needed, round your answers to the nearest cent.
Product 1 | Product 2 | |||
Prices | $ | $ |
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