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 equations ( see attached for equation) Set up a function to describe how the total profit (revenue - costs) depends on the unit prices p1 and p2.
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 equations ( see attached for equation) Set up a function to describe how the total profit (revenue - costs) depends on the unit prices p1 and p2.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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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 equations
( see attached for equation)
Set up a function to describe how the total profit (revenue - costs) depends on the unit prices p1 and p2.
Transcribed Image Text:21 3 200 + 100 (р2 — Рі1), х, — 500 — 150р2-
Х2 — 500— 150p2.
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