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 PS = selling price of the Sky Eagle DH = demand for the Horizon PH = selling price of the Horizon DS = 228 − 0.60PS + 0.35PH DH = 280 + 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 PS and PH only) for these two models, and find the revenue maximizing prices (in dollars). (Round your answers to two decimal places.) Revenue R = 228Ps−0.60P2s+0.35PhPs+280Ph+0.10PsPh−0.64P2s Price for Sky Eagle PS =$ Price for Horizon PH =$ Optimal revenue R =$
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 PS = selling price of the Sky Eagle DH = demand for the Horizon PH = selling price of the Horizon DS = 228 − 0.60PS + 0.35PH DH = 280 + 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 PS and PH only) for these two models, and find the revenue maximizing prices (in dollars). (Round your answers to two decimal places.) Revenue R = 228Ps−0.60P2s+0.35PhPs+280Ph+0.10PsPh−0.64P2s Price for Sky Eagle PS =$ Price for Horizon PH =$ Optimal revenue R =$
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 demands and selling prices for these two cameras are as follows.
DS = demand for the Sky Eagle
PS = selling price of the Sky Eagle
DH = demand for the Horizon
PH = selling price of the Horizon
DS = 228 − 0.60PS + 0.35PH
DH = 280 + 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
PS
and
PH
only) for these two models, and find the revenue maximizing prices (in dollars). (Round your answers to two decimal places.)Revenue
Price for Sky Eagle
R
=
228Ps−0.60P2s+0.35PhPs+280Ph+0.10PsPh−0.64P2s
PS
=$ Price for Horizon
PH
=$ Optimal revenue
R
=$ Expert Solution
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