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1. The quantity of a product demanded by consumers is a function of its price. The quantity of one product demanded may also depend
1. The quantity of a product demanded by consumers is a function of its price. The quantity of one product demanded may also depend on the price of other products. The quantities demanded, 91 and a. 91, of two products depend on their prices, P1 and P2, respectively, as follows: 911502p1 - P2 92 = 200 - P1 - 3p2 What does the fact that the coefficients of P and P2 are negative tell you? b. If one manufacturer sells both products, how should the prices be set to generate the maximum possible revenue? C. What is the maximum possible revenue?
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