A company produces two types of hand soaps: a solid and a liquid soap. The cost of production for a solid soap is 10 cents per soap and 20 cents for the liquid soap. The company developed a model that predicts how many units x1 (of the solid soap), and x2 (of the liquid soap) they will sell per month. According to the model, the amount of units sold depends on the prices p1,p2 (in dollars) of solid and liquid soap through the equation (equation is attached)  Find the value of p1,p2 that maximizes the profit.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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A company produces two types of hand soaps: a solid and a liquid soap. The cost of production for a solid soap is 10 cents per soap and 20 cents for the liquid soap. The company developed a model that predicts how many units x1 (of the solid soap), and x2 (of the liquid soap) they will sell per month. According to the model, the amount of units sold depends on the prices p1,p2 (in dollars) of solid and liquid soap through the equation

(equation is attached)

 Find the value of p1,p2 that maximizes the profit.

21 3 200 + 100 (р2 — Рі1), х, — 500 — 150р2-
Х2 — 500— 150p2.
Transcribed Image Text:21 3 200 + 100 (р2 — Рі1), х, — 500 — 150р2- Х2 — 500— 150p2.
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