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Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demands and selling prices for these two cameras are as follows. De demand for the Sky Eagle Ps= selling price of the Sky Eagle DH demand for the Horizon PH selling price of the Horizon Ds = 223 -0.60Ps+0.35PH DH=265 +0.10Ps - 0.64PH The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function R (in terms of Ps and PH only) for these two models, and find the revenue maximizing prices (in dollars). (Round your answers to two decimal places.) R = PS (223-0.60Ps+0.35PH) +PH (265+0.10PS-0.64PH) Revenue Price for Sky Eagle Price for Horizon Optimal revenue Ps= $ 309.24 PH = $315.75 R$ 77244.46 x x x

Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demands and selling prices for these two cameras are as follows. De demand for the Sky Eagle Ps= selling price of the Sky Eagle DH demand for the Horizon PH selling price of the Horizon Ds = 223 -0.60Ps+0.35PH DH=265 +0.10Ps - 0.64PH The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function R (in terms of Ps and PH only) for these two models, and find the revenue maximizing prices (in dollars). (Round your answers to two decimal places.) R = PS (223-0.60Ps+0.35PH) +PH (265+0.10PS-0.64PH) Revenue Price for Sky Eagle Price for Horizon Optimal revenue Ps= $ 309.24 PH = $315.75 R$ 77244.46 x x x

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter3: Demand Analysis
Section: Chapter Questions
Problem 8E: The Stopdecay Company sells an electric toothbrush for $25. Its sales have averaged 8,000 units per...
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Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demands and selling prices for these two cameras are as follows. Ds = demand for the Sky Eagle Ps= selling price of the Sky Eagle DH = demand for the Horizon PH = selling price of the Horizon Revenue Ds = 223 - 0.60PS + 0.35PH DH= = 265 + 0.10Ps - 0.64PH The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function R (in terms of P and PH only) for these two models, and find the revenue maximizing prices (in dollars). (Round your answers to two decimal places.) Price for Sky Eagle Price for Horizon Optimal revenue R = Ps (223 -0.60P+ 0.35P₁ +PH (265 +0.10P - 0.64P н' Ps = $309.24 = $ 315.75 H R = $77244.46 xxx
Transcribed Image Text:Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demands and selling prices for these two cameras are as follows. Ds = demand for the Sky Eagle Ps= selling price of the Sky Eagle DH = demand for the Horizon PH = selling price of the Horizon Revenue Ds = 223 - 0.60PS + 0.35PH DH= = 265 + 0.10Ps - 0.64PH The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function R (in terms of P and PH only) for these two models, and find the revenue maximizing prices (in dollars). (Round your answers to two decimal places.) Price for Sky Eagle Price for Horizon Optimal revenue R = Ps (223 -0.60P+ 0.35P₁ +PH (265 +0.10P - 0.64P н' Ps = $309.24 = $ 315.75 H R = $77244.46 xxx
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