Chapter 6.3, Problem 21E

In Exercises 15-22, assume that relative maximum and minimum values are absolute maximum and minimum values.

Two-variable revenue maximization. Repeat Exercise 20, using

$q_1=64-4p_1-2p_2$ and

$q_2=56-2p_1-4p_{2.}$

a. $\text{R=64}{p}_1-4p_1{}^2-4p_1{p}_2+56p_2-4p_2{}^2$;

b. $p_1=6,$

or $60, $p_2=4,$

$40;

c. $q_1=32,$

3200 units, $q_2=28,$

or 2800 units;

d. $304,000