An electronics store sells two popular models of wireless headphones, model A and model B. The sales of these products are not independent of each other (in economics, we call these substitutable products because if the price of one increases, sales of the other will increase). The store wishes to establish a pricing policy to maximize revenue from these products. A study of price and sales data shows the following relationships between the quantity sold (N) and prices (P) of each model: = NA 19-0.64PA+0.22PB NB=34+0.12PA-0.54PB Develop a spreadsheet for calculating the total revenue if PA = $17 and PB = $28. Design it so that the price-demand function parameters can easily be changed. Complete the spreadsheet below. (Type integers or decimals. Round the quantities to the nearest integer as needed. Do not include the $ symbol in your answers.) A 2 Model 3 A 4 B 5 B Price с Model Parameters for QTY Sold Constant D E F G Coeff Price A Coeff Price B Quantity Sold Revenue Total Revenue

An electronics store sells two popular models of wireless headphones, model A and model B. The sales of these products are not independent of each other (in economics, we call these substitutable products because if the price of one increases, sales of the other will increase). The store wishes to establish a pricing policy to maximize revenue from these products. A study of price and sales data shows the following relationships between the quantity sold (N) and prices (P) of each model: = NA 19-0.64PA+0.22PB NB=34+0.12PA-0.54PB Develop a spreadsheet for calculating the total revenue if PA = $17 and PB = $28. Design it so that the price-demand function parameters can easily be changed. Complete the spreadsheet below. (Type integers or decimals. Round the quantities to the nearest integer as needed. Do not include the $ symbol in your answers.) A 2 Model 3 A 4 B 5 B Price с Model Parameters for QTY Sold Constant D E F G Coeff Price A Coeff Price B Quantity Sold Revenue Total Revenue

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q TFC TVC TC MC AFC AVC ATC $20 $0 1 $20 $15 2 $20 $25 3 $30 4 $6 $8.80