Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost per minute to advertise TV Radio $3,000 $1,000 Revenue (in $1000s) from advertising x minutes on TV, y minutes on radio is of

 

Cost per minute to advertise TV Radio $3,000 $1,000 Revenue (in $1000s) from advertising x minutes on TV, y minutes on radio is of form -Ax-By+Cxy+Dx+Ey, where A B C 0.3 0.4 0.8 A firm is planning to spend $75,000 on advertising. It costs $3000 per minute to advertise on television and $1000 per minute to advertise on radio. If the firm buys X minutes of television advertising and Y minutes of radio advertising, its revenue in thousands of dollars is given by -0.3x^2-0.4y^2+0.8xy+5x+10y. How can the firm maximize its revenue? DS E 5 10

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Finite Mathematics and Its Applications

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

12th edition

978-0134768588, 9780134437767, 134768582, 134437764, 978-0134768632

More Books

Students also viewed these Mathematics questions

Question

How are interest rates used to allocate capital among firms?

Answered: 1 week ago

Question

How is use of the word consistent helpful in fraud reports?

Answered: 1 week ago