Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demands and selling prices for these two cameras are as follows.Ds = demand for the Sky EaglePs = selling price of the Sky EagleDHdemand for the HorizonPH selling price of the Horizon=Ds = 226 -0.60PS + 0.35PHDH = 265 +0.10Ps - 0.64PpHThe store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function R (in terms of P and P only) for these two models, and find the prices (in dollars)s PHthat maximizes revenue. (Round your answers to two decimal places.)RevenueR=Price for Sky EagleP=$SPrice for HorizonPH=$Optimal revenueR =$

Therefore:Revenue function (R=226Ps−0.60Ps2+0.45PsPh+265Ph−0.64Ph2)Optimal price for Sky Eagle…

Answered: Jim's Camera shop sells two high-end…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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