The function is the revenue function for selling widgets and gizmos with demand price functions PriceGizmos = 31 + 0.94QuantityGiamos/100 PriceWidgets = 19 • 0.85QuantityWidgets/150 and, P = (QuanityGizmos, QuantityWidgets) = (762, 401) and P, = (729, 422) QuantityWidgets 306 QuantityGizmos 250 a. Give the 2 functions of one variable through P, obtained by holding each variable constant. (Use the variables QW and QG) Revenue(762, QW) =- 762 · (19.3462 – QW 762. + QW |19 · 0,85 T50 250 306 Revenue(QG, 401) = QG · (31 ·0.94 OG 250 401 + 401: (12.3046 306 b. Find the partial derivatives of the original function. (Use the variables QW and QG) Revenuega(QG, QW) = 29.14 T (1 – f00 In(29.14)) - QW( 306 * 250 Revenueqw (QG, QW) =

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The function is the revenue function for selling widgets and gizmos with demand price functions
PriceGizmos = 31 + 0.94QuantityGizmos/100
PriceWidgets = 19 • 0.85QuantityWidgets/150
and, P = (QuanityGizmos, QuantityWidgets) = (762, 401) and P, = (729, 422)
QuantityWidgets
306
QuantityGizmos
250
a. Give the 2 functions of one variable through P, obtained by holding each variable constant. (Use the
variables QW and QG)
OW
Revenue(762, QW) - 762 · (19.3462
306
ow (w os
762
250
+ QW
150
0.85
OG
401
306
+ 401 · (12.3046 – OG
250
Revenue(QG, 401)
QG 31 · 0.94 T00
b. Find the partial derivatives of the original function. (Use the variables QW and QG)
OG
100
Revenueg(QG, QW) = 29.14
OG
100
306
250
Revenueqw(QG, QW)
Transcribed Image Text:The function is the revenue function for selling widgets and gizmos with demand price functions PriceGizmos = 31 + 0.94QuantityGizmos/100 PriceWidgets = 19 • 0.85QuantityWidgets/150 and, P = (QuanityGizmos, QuantityWidgets) = (762, 401) and P, = (729, 422) QuantityWidgets 306 QuantityGizmos 250 a. Give the 2 functions of one variable through P, obtained by holding each variable constant. (Use the variables QW and QG) OW Revenue(762, QW) - 762 · (19.3462 306 ow (w os 762 250 + QW 150 0.85 OG 401 306 + 401 · (12.3046 – OG 250 Revenue(QG, 401) QG 31 · 0.94 T00 b. Find the partial derivatives of the original function. (Use the variables QW and QG) OG 100 Revenueg(QG, QW) = 29.14 OG 100 306 250 Revenueqw(QG, QW)
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