A store sells two brands of camping chairs. The store pays $50 for each brand A chair and $100 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 = 1119-5p+q y = 291 +p-3q Ine demand Tor x will be 689 (Type a whole number.) The demand for y will be 181. (Type a whole number.) Demand equation for brand A Demand equation for brand B ... (B) How should the store price each chair to maximize weekly profits? What is the maximum weekly profit? [Hint: C = 50x + 100y, R= px + qy, and P = R-C.] The equation for P is P(p,q) = .
A store sells two brands of camping chairs. The store pays $50 for each brand A chair and $100 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 = 1119-5p+q y = 291 +p-3q Ine demand Tor x will be 689 (Type a whole number.) The demand for y will be 181. (Type a whole number.) Demand equation for brand A Demand equation for brand B ... (B) How should the store price each chair to maximize weekly profits? What is the maximum weekly profit? [Hint: C = 50x + 100y, R= px + qy, and P = R-C.] The equation for P is P(p,q) = .
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 $50 for each brand A chair and $100 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 = 1119-5p+q
y = 291 +p-3q
Ine demand Tor X WIII de 689
(Type a whole number.)
The demand for y will be 181.
(Type a whole number.)
Demand equation for brand A
Demand equation for brand B
....
(B) How should the store price each chair to maximize weekly profits? What is the maximum weekly profit? [Hint:
C = 50x + 100y, R= px +qy, and P = R-C.]
The equation for P is P(p,q) =.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6d96024e-4284-45bb-822f-9657558d02e4%2Fd2c5bed7-d983-478b-b2aa-31b6f15111f6%2Faygal43_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A store sells two brands of camping chairs. The store pays $50 for each brand A chair and $100 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 = 1119-5p+q
y = 291 +p-3q
Ine demand Tor X WIII de 689
(Type a whole number.)
The demand for y will be 181.
(Type a whole number.)
Demand equation for brand A
Demand equation for brand B
....
(B) How should the store price each chair to maximize weekly profits? What is the maximum weekly profit? [Hint:
C = 50x + 100y, R= px +qy, and P = R-C.]
The equation for P is P(p,q) =.
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