question archive Jim's Camera shop sells two high-end cameras, the Sky Eagle and the Horizon
Jim's Camera shop sells two high-end cameras, the Sky Eagle and the Horizon
Subject:FinancePrice:2.86 Bought3
Jim's Camera shop sells two high-end cameras, the Sky Eagle and the 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 = 206 - 0.61PS + 0.59PH
DH = 271 + 0.23PS - 0.51PH
The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function for these two models. Enter negative answers as positive values.
PSDS + PHDH = PS (fill in the blank 1 - fill in the blank 2PS + fill in the blank 3PH) + PH (fill in the blank 4 + fill in the blank 5PS - fill in the blank 6PH)
Find the revenue maximizing prices. Round your answers to the nearest cent.
Revenue: $ fill in the blank 7
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