Find p1 and p2, the prices per unit (in dollars), so as to maximize the total revenue R = X1P1 + X2P2 where x1 and x2 are the numbers of units sold, for a retail outlet that sells two competitive products with the given demand functions. X1 = 2300 – 4p1 + 2p2, x2 = 2100 + 4p1 – 3p2 P1 = $ P2 = $
Find p1 and p2, the prices per unit (in dollars), so as to maximize the total revenue R = X1P1 + X2P2 where x1 and x2 are the numbers of units sold, for a retail outlet that sells two competitive products with the given demand functions. X1 = 2300 – 4p1 + 2p2, x2 = 2100 + 4p1 – 3p2 P1 = $ P2 = $
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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![Find p1 and p2, the prices per unit (in dollars), so as to maximize the total revenue
R = X1P1 + X2P2
where x1 and x2 are the numbers of units sold, for a retail outlet that sells two competitive products with the given demand functions.
X1 = 2300
4p1 + 2p2, х2 %3D 2100 + 4р1 — Зр2
Pi = $
P2
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F88732cdb-bea4-4beb-988a-135bbf76b5af%2F604765a9-bbfb-4de5-8c72-e07381a8cdf2%2Frl5u03q_processed.png&w=3840&q=75)
Transcribed Image Text:Find p1 and p2, the prices per unit (in dollars), so as to maximize the total revenue
R = X1P1 + X2P2
where x1 and x2 are the numbers of units sold, for a retail outlet that sells two competitive products with the given demand functions.
X1 = 2300
4p1 + 2p2, х2 %3D 2100 + 4р1 — Зр2
Pi = $
P2
$
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