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The Camera Shop sells two popular models of digital SLR cameras ( Camera A Price: $ 2 0 0 , Camera B Price: $ 3
The Camera Shop sells two popular models of digital SLR cameras Camera A Price: $ Camera B Price: $ The sales of these products are not independent of each other, but rather if the price of one increase, the sales of the other will increase. In economics, these two camera models are called substitutable products. The store wishes to establish a pricing policy to maximize revenue from these products. A study of price and sales data shows the following relationships between the quantity sold N and prices P of each model:
NA PA PB
NB PA PB
Construct a model for the total revenue and implement it on a spreadsheet. Develop a twoway data table to estimate the optimal prices for each product in order to maximize the total revenue. Vary each price from $ to $ in increments of $
Max revenue occurs at Camera A price of $
Max revenue occurs at Camera B price of $ please don't just explain the steps, do the steps you say and show me the answer with screenshots thanks
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