Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demands and selling prices
Fantastic news! We've Found the answer you've been seeking!
Question:
Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demands and selling prices for these two cameras are as follows.
DS = demand for the Sky Eagle
PS = selling price of the Sky Eagle
DH = demand for the Horizon
PH = selling price of the Horizon
DS = 224 0.60PS + 0.35PH
DH = 260 + 0.10PS 0.64PH
The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function R (in terms of PS and PH only) for these two models, and find the revenue maximizing prices (in dollars). (Round your answers to two decimal places.)
Revenue R =
Price for Sky EaglePS =$
Price for HorizonPH =$
Optimal revenueR =
Expert Answer:
Posted Date:
