for the first selection the choices are: a) $130.00 b) $115.00 c) $100.00 d) $90.00fort the second selection the choices are: a) $105.00 b) $130.00 c) $100.00 d) $90.00for the third selection the choices are: a) $3940 b) $4750 c) $6290 d) $5270 ### Demand Equations for Thingamajigs**ACME Thingamajigs Ltd.** produces two types of thingamajigs, Type 1 and Type 2. The demand equations for these Thingamajigs are given by:\[ q_1 = 120 - 1.5p_1 + p_2 \]\[ q_2 = 100 + 2p_1 - 3p_2 \]where $ p_1 $ and $ p_2 $ are the prices that ACME sets for Type 1 and Type 2 Thingamajigs, respectively, and $ q_1 $ and $ q_2 $ are the corresponding weekly demands for these goods.### Weekly Production CostACME's weekly production cost is given by the equation:\[ c = 40q_1 + 30q_2 + 2000 \]### Optimization ProblemThe prices that ACME should set to **maximize** their weekly profit are denoted as $ p_1^* $ and $ p_2^* $, and their maximum weekly profit is denoted as $ \pi^* $. Select the appropriate prices and the maximum weekly profit from the provided options:\[ p_1^* = \text{[ Select ]} \]\[ p_2^* = \text{[ Select ]} \]\[ \pi^* = \text{[ Select ]} \]Ensure that you understand how these equations interrelate and can be used to determine the optimal pricing strategy for maximizing profit. Understanding the cost structure and how demand reacts to price changes is crucial for effective decision-making and maximizing profitability.

Answered: Image /qna-images/answer/732c309c-989a-4b37-8de6-173880361913.jpg

ACME Thingamjigs ltd. produces two types of thingamajigs, Type 1 and Type 2. The demand for equations for these Thingamajigs are 91 = 120 1.5p₁ + P₂ and = 92 100+2p13p2 where P₁ and P2₂ are the prices that ACME sets for Type 1 and Type 2 Thingamajigs, respectively, and ₁ and 2 are the corresponding weekly demands for these goods. ACME's weekly production cost is given by c= 40q₁ +30q₂ + 2000. The prices that ACME should set to maximize their weekly profit are p [Select] and p [Select] and their maximum = [Select] weekly profit is * =

ACME Thingamjigs ltd. produces two types of thingamajigs, Type 1 and Type 2. The demand for equations for these Thingamajigs are 91 = 120 1.5p₁ + P₂ and = 92 100+2p13p2 where P₁ and P2₂ are the prices that ACME sets for Type 1 and Type 2 Thingamajigs, respectively, and ₁ and 2 are the corresponding weekly demands for these goods. ACME's weekly production cost is given by c= 40q₁ +30q₂ + 2000. The prices that ACME should set to maximize their weekly profit are p [Select] and p [Select] and their maximum = [Select] weekly profit is * =

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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