Question
Hog's Head ownership is deciding what price to charge for pumpkin juice and butterbeer to maximize its profits. Let a be the price of pumpkin
Hog's Head ownership is deciding what price to charge for pumpkin juice and butterbeer to maximize its profits. Let a be the price of pumpkin juice and b be the price of butterbeer, both in sickles (currency from the magical world). The demand equations are
x = 97 30a + 5b
y = 106 + 3a 20b
where x is the number of pumpkin juices sold in a day and y is the number of butterbeers sold in a day. Their daily costs are C = a + 2b + 50 sickles. How much should Hog's Head charge for each item to maximize their daily profits? Include units. Be sure to test that these give you a maximum.
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