A store sells two brands of camping chairs. The store pays $90 for each brand A chair and $60 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 = 1107-4p+q y = 835+p-5q Demand equation for brand A Demand equation for brand B (A) Determine the demands for x and y when p = $70 and q= $140. The demand for x will be 967. (Type a whole number.) The demand for y will be 205. (Type a whole number.) Determine the demands for x and y when p= $110 and q = $120. The demand for x will be 787 (Type a whole number.) The demand for y will be 345. (Type a whole number.) (B) How should the store price each chair to maximize weekly profits? What is the maximum weekly profit? [Hint: C = 90x+60y, 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 $90 for each brand A chair and $60 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 = 1107-4p+q y = 835+p-5q Demand equation for brand A Demand equation for brand B (A) Determine the demands for x and y when p = $70 and q= $140. The demand for x will be 967. (Type a whole number.) The demand for y will be 205. (Type a whole number.) Determine the demands for x and y when p= $110 and q = $120. The demand for x will be 787 (Type a whole number.) The demand for y will be 345. (Type a whole number.) (B) How should the store price each chair to maximize weekly profits? What is the maximum weekly profit? [Hint: C = 90x+60y, 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
Related questions
Question
1) Fing an equation for P
2) To maxmize profit for the Brand A Chair should be priced at $____ and Brand B Chair should be priced at $___
3) What is the maxmium weekly profit?
![A store sells two brands of camping chairs. The store pays $90 for each brand A chair and $60 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 = 1107-4p+q
y = 835+p-5q
Demand equation for brand A
Demand equation for brand B
(A) Determine the demands for x and y when p = $70 and q = $140.
The demand for x will be 967
(Type a whole number.)
The demand for y will be 205
(Type a whole number.)
Determine the demands for x and y when p = $110 and q = $120.
The demand for x will be 787
(Type a whole number.)
G
The demand for y will be 345
(Type a whole number.)
(B) How should the store price each chair to maximize weekly profits? What is the maximum weekly profit? [Hint: C = 90x+60y, 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%2F71730e51-a37a-4037-83ec-597d6b0fe89f%2Fvi5lgcj_processed.png&w=3840&q=75)
Transcribed Image Text:A store sells two brands of camping chairs. The store pays $90 for each brand A chair and $60 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 = 1107-4p+q
y = 835+p-5q
Demand equation for brand A
Demand equation for brand B
(A) Determine the demands for x and y when p = $70 and q = $140.
The demand for x will be 967
(Type a whole number.)
The demand for y will be 205
(Type a whole number.)
Determine the demands for x and y when p = $110 and q = $120.
The demand for x will be 787
(Type a whole number.)
G
The demand for y will be 345
(Type a whole number.)
(B) How should the store price each chair to maximize weekly profits? What is the maximum weekly profit? [Hint: C = 90x+60y, R= px +qy, and P=R-C.]
The equation for P is P(p, q) =
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