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Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demand for these two cameras are as follows ( D S =

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Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demand for these two cameras are as follows (DS = demand for the Sky Eagle, Ps is the selling price of the Sky Eagle, DH is the demand for the Horizon and PH is the selling price of the Horizon):

Ds = 225 - 0.6 Ps + 0.3 PH

DH = 270 + 0.1 Ps - 0.58 PH

The store wishes to determine the selling price that maximizes revenue for these two products. Select the revenue function for these two models. Choose the correct answer below.

(i)PsDs + PHDH = PH(270 - 0.1 Ps - 0.58 PH) + Ps(225 - 0.6 Ps + 0.3 PH)
(ii)PsDs - PHDH = Ps(225 - 0.6 Ps + 0.3 PH) - PH(270 - 0.1 Ps - 0.58 PH)
(iii)PsDs + PHDH = Ps(225 - 0.6 Ps + 0.3 PH) + PH(270 + 0.1 Ps - 0.58 PH)
(iv)PsDs - PHDH = Ps(225 + 0.6 Ps + 0.3 PH) - PH(270 - 0.1 Ps - 0.58 PH)

- Select your answer -Option (i)Option (ii)Option (iii)Option (iv)Item 1

Find the prices that maximize revenue.

Do not round intermediate calculations. If required, round your answers to two decimal places.

Optimal Solution:

Selling price of the Sky Eagle (Ps): $

Selling price of the Horizon (PH): $

Total Revenue: $

image text in transcribed Selling price of the Sky Eagle (P5): $ 259.08 0 Selling price of the Horizon (PH): 5 214.?3 a Total Revenue: $ 138,??4.36 '3

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