Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. [012 Points] PREVIOUS ANSWERS WANEFMAC? 153.045. ASK YOUR TEACHER PRACTICE ANOTHER Your company manufactures two models of speakers, the Ultra Mini and the Big

image text in transcribed

image text in transcribed
5. [012 Points] PREVIOUS ANSWERS WANEFMAC? 153.045. ASK YOUR TEACHER PRACTICE ANOTHER Your company manufactures two models of speakers, the Ultra Mini and the Big Staci-c. Demand for each depends partly on the price of the other. If one is expensive. then more people will buy the other. If p1 is the price of the Ultra Mini, and 92 Is the price of the Big Stack, demand for the Ultra Mini is given by '71"51' p2) = 100,000 60001 + 1002, where '71 represents the number of Ultra Minis that will be sold in a year. The demand for the Big Stack is given by the following. qzijpl, p2) = 150,000 + 10;:i1 60002 Find the prices for the Ultra Mini and the Big Stack that will maximize your total revenue. (Round your answers to two decimal places.) 9. = i x p. = as x Need Help

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting An Introduction to Concepts Methods and Uses

Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil

10th Edition

1111822239, 324639767, 9781111822231, 978-0324639766

Students also viewed these Mathematics questions

Question

Why is convergence of XML protocols likely?

Answered: 1 week ago