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 Ps= selling price of the Sky Eagle DH demand for the Horizon PH selling price of the Horizon Ds = 223 -0.60Ps+0.35PH DH=265 +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.) R = PS (223-0.60Ps+0.35PH) +PH (265+0.10PS-0.64PH) Revenue Price for Sky Eagle Price for Horizon Optimal revenue Ps= $ 309.24 PH = $315.75 R$ 77244.46 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 Ps= selling price of the Sky Eagle DH demand for the Horizon PH selling price of the Horizon Ds = 223 -0.60Ps+0.35PH DH=265 +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.) R = PS (223-0.60Ps+0.35PH) +PH (265+0.10PS-0.64PH) Revenue Price for Sky Eagle Price for Horizon Optimal revenue Ps= $ 309.24 PH = $315.75 R$ 77244.46 x x x

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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