Your company is going to produce two versions of its new video game systems, Boxy-x, B1, and Boxy-s,B2.Demand for each depends partly on the price of the other. The price for the Boxy-x and Boxy-s will berepresented by pi and p2 respectively. The demand function for the Boxy-x is:91 (P1, P2)120, 000 – 700p, + 14p2%3Dwhere q is the number of Boxy-x units that will be sold per week. The demand function for the Boxy-s is:92 (P1, P2)120, 000 + 14pi300p2where q is the number of Boxy-s units that will be sold per week. Find the prices for the Boxy-x and Boxy-sthat will maximize the total revenue.(Round your answers to the nearest hundredths place.)Pi =P2=Submit Question

The above given problem is solved as follows:

Your company is going to produce two versions of its new video game systems, Boxy-x,B1, and Boxy-s,B2. Demand for each depends partly on the price of the other. The price for the Boxy-x and Boxy-s will be represented by pi and pa respectively. The demand function for the Boxy-x is: 91 (P1, P2) 120, 000 – 700p, + 14p2 where q is the number of Boxy-x units that will be sold per week. The demand function for the Boxy-s is: 2(P1, P2) = 120, 000 + 14pı – 300p2 %3D where q2 is the number of Boxy-s units that will be sold per week. Find the prices for the Boxy-x and Boxy-s that will maximize the total revenue. (Round your answers to the nearest hundredths place.) Pi = P2=

Your company is going to produce two versions of its new video game systems, Boxy-x,B1, and Boxy-s,B2. Demand for each depends partly on the price of the other. The price for the Boxy-x and Boxy-s will be represented by pi and pa respectively. The demand function for the Boxy-x is: 91 (P1, P2) 120, 000 – 700p, + 14p2 where q is the number of Boxy-x units that will be sold per week. The demand function for the Boxy-s is: 2(P1, P2) = 120, 000 + 14pı – 300p2 %3D where q2 is the number of Boxy-s units that will be sold per week. Find the prices for the Boxy-x and Boxy-s that will maximize the total revenue. (Round your answers to the nearest hundredths place.) Pi = P2=

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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