Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demand for these two cameras are as follows (Ds demand for the Sky Eagle, Ps is the selling price of the Sky Eagle, DH is the demand for the Horizon and PH is the selling price of the Horizon): Ds = 225 -0.6 Ps + 0.3 PH DH = 270+ 0.1 Ps - 0.58 PH The store wishes to determine the selling price that maximizes revenue for these two products. Select the revenue function for these two models. Choose the correct answer below. (1) Ps Ds + PHDH = PH(270 - 0.1 Ps 0.58 PH) + Ps(225 -0.6 Ps + 0.3 PH) (ii) Ps Ds - PH DH = Ps(225 -0.6 Ps + 0.3 PH) - PH (270 - 0.1 Ps - 0.58 PH) (iii) Ps Ds + PH DH = Ps(225 - 0.6 Ps + 0.3 PH) + PH (270+ 0.1 Ps 0.58 PH) (iv) Ps Ds - PH DH = Ps(225 + 0.6 Ps + 0.3 PH) - PH(270 - 0.1 Ps - 0.58 PH) Select your answer - Find the prices that maximize revenue. Do not round intermediate calculations. If required, round your answers to two decimal places. Optimal Solution: Selling price of the Sky Eagle (Ps): $ Selling price of the Horizon (PH): $ Total Revenue: $
Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demand for these two cameras are as follows (Ds demand for the Sky Eagle, Ps is the selling price of the Sky Eagle, DH is the demand for the Horizon and PH is the selling price of the Horizon): Ds = 225 -0.6 Ps + 0.3 PH DH = 270+ 0.1 Ps - 0.58 PH The store wishes to determine the selling price that maximizes revenue for these two products. Select the revenue function for these two models. Choose the correct answer below. (1) Ps Ds + PHDH = PH(270 - 0.1 Ps 0.58 PH) + Ps(225 -0.6 Ps + 0.3 PH) (ii) Ps Ds - PH DH = Ps(225 -0.6 Ps + 0.3 PH) - PH (270 - 0.1 Ps - 0.58 PH) (iii) Ps Ds + PH DH = Ps(225 - 0.6 Ps + 0.3 PH) + PH (270+ 0.1 Ps 0.58 PH) (iv) Ps Ds - PH DH = Ps(225 + 0.6 Ps + 0.3 PH) - PH(270 - 0.1 Ps - 0.58 PH) Select your answer - Find the prices that maximize revenue. Do not round intermediate calculations. If required, round your answers to two decimal places. Optimal Solution: Selling price of the Sky Eagle (Ps): $ Selling price of the Horizon (PH): $ Total Revenue: $
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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![Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demand for these two cameras are as follows ( \( D_S = \) demand for the Sky Eagle, \( P_S \) is the selling price of the Sky Eagle, \( D_H \) is the demand for the Horizon and \( P_H \) is the selling price of the Horizon):
\[
D_S = 225 - 0.6 \ P_S + 0.3 \ P_H
\]
\[
D_H = 270 + 0.1 \ P_S - 0.58 \ P_H
\]
The store wishes to determine the selling price that maximizes revenue for these two products. Select the revenue function for these two models. Choose the correct answer below.
1. \((i) \quad P_S \ D_S + P_H \ D_H = P_H(270 - 0.1 \ P_S - 0.58 \ P_H) + P_S(225 - 0.6 \ P_S + 0.3 \ P_H) \)
2. \((ii) \quad P_S \ D_S + P_H \ D_H = P_S(225 - 0.6 \ P_S + 0.3 \ P_H) + P_H(270 + 0.1 \ P_S - 0.58 \ P_H) \)
3. \((iii) \quad P_S \ D_S - P_H \ D_H = P_S(225 - 0.6 \ P_S + 0.3 \ P_H) - P_H(270 + 0.1 \ P_S - 0.58 \ P_H) \)
4. \((iv) \quad P_S \ D_S - P_H \ D_H = P_S(225 + 0.6 \ P_S + 0.3 \ P_H) - P_H(270 - 0.1 \ P_S - 0.58 \ P_H) \)
\[ \text{Select Your Answer:} \, \text{[Dropdown Menu]} \]
### Find the prices that maximize revenue.
Do not round intermediate calculations. If required, round your answers to two decimal places.
**Optimal Solution:**
- **Selling price of the Sky Eagle (\( P_S \)):** \(\$\_\_\_\)\,
- **Selling price of the](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb894e8fe-1c5c-40b2-9b0c-b397d4783847%2Fd8f422d1-1060-42b8-ba4f-57e57c159fbd%2Fohsngor_processed.png&w=3840&q=75)
Transcribed Image Text:Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demand for these two cameras are as follows ( \( D_S = \) demand for the Sky Eagle, \( P_S \) is the selling price of the Sky Eagle, \( D_H \) is the demand for the Horizon and \( P_H \) is the selling price of the Horizon):
\[
D_S = 225 - 0.6 \ P_S + 0.3 \ P_H
\]
\[
D_H = 270 + 0.1 \ P_S - 0.58 \ P_H
\]
The store wishes to determine the selling price that maximizes revenue for these two products. Select the revenue function for these two models. Choose the correct answer below.
1. \((i) \quad P_S \ D_S + P_H \ D_H = P_H(270 - 0.1 \ P_S - 0.58 \ P_H) + P_S(225 - 0.6 \ P_S + 0.3 \ P_H) \)
2. \((ii) \quad P_S \ D_S + P_H \ D_H = P_S(225 - 0.6 \ P_S + 0.3 \ P_H) + P_H(270 + 0.1 \ P_S - 0.58 \ P_H) \)
3. \((iii) \quad P_S \ D_S - P_H \ D_H = P_S(225 - 0.6 \ P_S + 0.3 \ P_H) - P_H(270 + 0.1 \ P_S - 0.58 \ P_H) \)
4. \((iv) \quad P_S \ D_S - P_H \ D_H = P_S(225 + 0.6 \ P_S + 0.3 \ P_H) - P_H(270 - 0.1 \ P_S - 0.58 \ P_H) \)
\[ \text{Select Your Answer:} \, \text{[Dropdown Menu]} \]
### Find the prices that maximize revenue.
Do not round intermediate calculations. If required, round your answers to two decimal places.
**Optimal Solution:**
- **Selling price of the Sky Eagle (\( P_S \)):** \(\$\_\_\_\)\,
- **Selling price of the
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