1. Rad Designs sells two kinds of sweatshirts that compete with one another.Their demand functions are expressed by the following relationships:91 = 78 – 6p1 – 3p2q2 = 66 – 3p1 – 6p2and p, are the prices of the sweatshirts in multiples of $10 andq, and q2 are the quantities of the sweatshirts demanded, in hundreds ofWhereP1units.a. Find the formula for total revenue in terms of p, and p2note: R = P191 + P292%3Db. What prices P1 and p2 should be charged for each product in order tomaximize revenue?c. How many units of each will be demanded?d. What is the maximum total revenue?MacBook Pro

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Description: 1. Rad Designs sells two kinds of sweatshirts that compete with one another.Their demand functions are expressed by the following relationships:91 = 78 – 6p1 – 3p2q2 = 66 – 3p1 – 6p2and p, are the prices of the sweatshirts in multiples of $10 andq,

Given: R= P1 Q1 + P2 Q2 =P1(78-6 P1-3 P2)+P2(66-3 P1-6 P2) =78 P1-6 P12 -3 P1 P2 +66 P2-3 P1…

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Rad Designs sells two kinds of sweatshirts that compete Their demand functions are expressed by the following r 91 = 78 – 6p1 – 3p2 %3D q2 = 66 – 3p1– 6p2 P2 are the prices of the sweatshirts in mult q, and q2 are the quantities of the sweatshirts demandec Where P1 and 91 units

Rad Designs sells two kinds of sweatshirts that compete Their demand functions are expressed by the following r 91 = 78 – 6p1 – 3p2 %3D q2 = 66 – 3p1– 6p2 P2 are the prices of the sweatshirts in mult q, and q2 are the quantities of the sweatshirts demandec Where P1 and 91 units

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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1. Rad Designs sells two kinds of sweatshirts that compete with one another.
Their demand functions are expressed by the following relationships:
91 = 78 – 6p1 – 3p2
q2 = 66 – 3p1 – 6p2
and p, are the prices of the sweatshirts in multiples of $10 and
q, and q2 are the quantities of the sweatshirts demanded, in hundreds of
Where
P1
units.
a. Find the formula for total revenue in terms of p, and p2
note: R = P191 + P292
%3D
b. What prices P1 and p2 should be charged for each product in order to
maximize revenue?
c. How many units of each will be demanded?
d. What is the maximum total revenue?
MacBook Pro

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