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. De demand for the Sky Eagle P-selling price of the Sky Eagle DH demand for the Horizon PH selling price of the Horizon D-227-0.60P + 0.35PM DH-275+0.10P-0.64PH The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function R (in terms of Pg and P only) for these two models, and find the prices (in dollars) that maximizes revenue. (Round your answers to two decimal places.) R-227Ps - 0.6(Ps)² +0.45PPH+275PH-0.64(PH)² Revenue Price for Sky Eagle Price for Horizon Optimal revenue P₁-S PH-S R$ x x x

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. De demand for the Sky Eagle P-selling price of the Sky Eagle DH demand for the Horizon PH selling price of the Horizon D-227-0.60P + 0.35PM DH-275+0.10P-0.64PH The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function R (in terms of Pg and P only) for these two models, and find the prices (in dollars) that maximizes revenue. (Round your answers to two decimal places.) R-227Ps - 0.6(Ps)² +0.45PPH+275PH-0.64(PH)² Revenue Price for Sky Eagle Price for Horizon Optimal revenue P₁-S PH-S R$ x x x

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

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 Eagle
P = selling price of the Sky Eagle
DH = demand for the Horizon
PH = selling price of the Horizon
Revenue
Ds = 227 -0.60Ps + 0.35PH
DH=275 +0.10P - 0.64PH
The 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) that maximizes revenue. (Round your answers to two decimal places.)
S
H
227P-0.6(Ps)² +0.45PPH+275PH
-275PH-0.64(PH)²
Price for Sky Eagle
Price for Horizon
Optimal revenue
R =
PS = $
PH = $
R = $
x
X
X

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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. D = demand for the Sky Eagle P = selling price of the Sky Eagle DH = demand for the Horizon PH = selling price of the Horizon Ds = 227 0.60P + 0.35PH DH = 275 + 0.10Ps - 0.64PH The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function R (in terms of P and PH only) for these two models, and find the prices (in dollars) that maximizes revenue. (Round your answers to two decimal places.) Revenue Price for Sky Eagle Price for Horizon Optimal revenue R = PS = $ PH = $ R = $
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