Your company manufactures two models of stereo speakers, the Ultra Mini and the Big Stack. Demand for each depends partly on the price of the other. If one is expensive, then more people will buy the other. If p, is the price of the Ultra Mini and P2 is the price of the Big Stack, demand for the Ultra Mini is given by 91 (P1, P2) = 50,000 – 100p1 + 10p2 %3D where q, represents the number of Ultra Minis that will be sold in a year. The demand for the Big Stack is given by 92 (P1. P2) = 150,000 + 10p, – 100p2 92 represents the number of Big Stacks that will be sold in a year. Find the prices for the Ultra Mini and the Big Stack that will maximize your total revenue. where
Your company manufactures two models of stereo speakers, the Ultra Mini and the Big Stack. Demand for each depends partly on the price of the other. If one is expensive, then more people will buy the other. If p, is the price of the Ultra Mini and P2 is the price of the Big Stack, demand for the Ultra Mini is given by 91 (P1, P2) = 50,000 – 100p1 + 10p2 %3D where q, represents the number of Ultra Minis that will be sold in a year. The demand for the Big Stack is given by 92 (P1. P2) = 150,000 + 10p, – 100p2 92 represents the number of Big Stacks that will be sold in a year. Find the prices for the Ultra Mini and the Big Stack that will maximize your total revenue. where
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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Transcribed Image Text:Your company manufactures two models of stereo speakers, the Ultra Mini
and the Big Stack. Demand for each depends partly on the price of the other. If one is
expensive, then more people will buy the other. If p, is the price of the Ultra Mini and
P2 is the price of the Big Stack, demand for the Ultra Mini is given by
91 (P1, P2) = 50,000 – 100p1 + 10p2
%3D
where q, represents the number of Ultra Minis that will be sold in a year. The demand
for the Big Stack is given by
92 (P1. P2) = 150,000 + 10p, – 100p2
92 represents the number of Big Stacks that will be sold in a year. Find the prices
for the Ultra Mini and the Big Stack that will maximize your total revenue.
where
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