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 Ps= selling price of the Sky Eagle DH demand for the Horizon PH = selling price of the Horizon Revenue Ds = 227 -0.60P + 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.) 227P§−0.6(P)² +0.45PPµ+275Pµ−0.64(Pµ)² Price for Sky Eagle Price for Horizon Optimal revenue R = Ps PH = $ R = $ = $ X X X

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
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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
Ps= selling price of the Sky Eagle
DH = demand for the Horizon
PH = selling price of the Horizon
Revenue
Ds = 227 -0.60P5 + 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 PH only) for these two models, and find the prices (in dollars) that maximizes revenue.
(Round your answers to two decimal places.)
227P§ −0.6(P§)² +0.45PPµ+275е−0.64(PH)²
Price for Sky Eagle
Price for Horizon
Optimal revenue
R =
Ps
= $
= $
R = $
Q
xxx
Transcribed Image Text: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 Ps= selling price of the Sky Eagle DH = demand for the Horizon PH = selling price of the Horizon Revenue Ds = 227 -0.60P5 + 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 PH only) for these two models, and find the prices (in dollars) that maximizes revenue. (Round your answers to two decimal places.) 227P§ −0.6(P§)² +0.45PPµ+275е−0.64(PH)² Price for Sky Eagle Price for Horizon Optimal revenue R = Ps = $ = $ R = $ Q xxx
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