A store sells two brands of camping chairs. The store pays $20 for each brand A chair and $50 for each research department has estimated that the weekly demand equations for these two competitive produc following, where p is the selling price for brand A, q is the selling price for brand B, and x and y are th chairs sold per week. Complete parts (A) and (B) below. x = 1686-5p+q 183+p-3q y = Demand equation for brand A Demand equation for brand B
A store sells two brands of camping chairs. The store pays $20 for each brand A chair and $50 for each research department has estimated that the weekly demand equations for these two competitive produc following, where p is the selling price for brand A, q is the selling price for brand B, and x and y are th chairs sold per week. Complete parts (A) and (B) below. x = 1686-5p+q 183+p-3q y = Demand equation for brand A Demand equation for brand B
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 store sells two brands of camping chairs. The store pays $20 for each brand A chair and $50 for each brand B chair. The
research department has estimated that the weekly demand equations for these two competitive products to be the
following, where p is the selling price for brand A, q is the selling price for brand B, and x and y are the average number of
chairs sold per week. Complete parts (A) and (B) below.
x = 1686-5p+q
y = 183+p-3q
(A) Determine the demands for x and y when p = $140 and q = $90.
The demand for x will be
(Type a whole number.)
Demand equation for brand A
Demand equation for brand B
The demand for y will be
(Type a whole number.)
Determine the demands for x and y when p = $190 and q = $70.
The demand for x will be
(Type a whole number.)
The demand for y will be
(Type a whole number.)
(B) How should the store price each chair to maximize weekly profits? What is the maximum weekly profit? [Hint:
C = 20x + 50y, R= px + qy, and P=R-C.]
The equation for P is P(p,q) = .
To maximize profit, the brand A chair should be priced at $ and the brand B chair should be priced at $
(Type integers or decimals rounded to two decimal places as needed.)
The maximum weekly profit is $ per week.
(Type an integer or decimal rounded to two decimal places as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F98cd964d-d404-4baa-97d7-2c78b32a686c%2F330c6f58-b023-44b2-b737-b04c325003eb%2Flb38hkj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A store sells two brands of camping chairs. The store pays $20 for each brand A chair and $50 for each brand B chair. The
research department has estimated that the weekly demand equations for these two competitive products to be the
following, where p is the selling price for brand A, q is the selling price for brand B, and x and y are the average number of
chairs sold per week. Complete parts (A) and (B) below.
x = 1686-5p+q
y = 183+p-3q
(A) Determine the demands for x and y when p = $140 and q = $90.
The demand for x will be
(Type a whole number.)
Demand equation for brand A
Demand equation for brand B
The demand for y will be
(Type a whole number.)
Determine the demands for x and y when p = $190 and q = $70.
The demand for x will be
(Type a whole number.)
The demand for y will be
(Type a whole number.)
(B) How should the store price each chair to maximize weekly profits? What is the maximum weekly profit? [Hint:
C = 20x + 50y, R= px + qy, and P=R-C.]
The equation for P is P(p,q) = .
To maximize profit, the brand A chair should be priced at $ and the brand B chair should be priced at $
(Type integers or decimals rounded to two decimal places as needed.)
The maximum weekly profit is $ per week.
(Type an integer or decimal rounded to two decimal places as needed.)
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