The quantity of a product demanded by consumers is a function of its price. The quantity of one product demanded may also depend on the price of other products. For example, if the only chocolate shop in town (a monopoly) sells milk and dark chocolates, the price it sets for each affects the demand of the other. The quantities demanded, q1​ and q2​, of two products depend on their prices, p1 and p2, as follows:
q1​=150−2p1​−p2
q2​=200−p1​−3p2​.​
If one manufacturer sells both products, how should the prices be set to generate the maximum possible revenue? What is that maximum possible revenue?
Answer:
Both prices should be set to #25.
The maximum revenue is #4375
Step-by-step explanation:
Given
[tex]q_1 = 150-2p_1-p_2[/tex]
[tex]q_2 = 200-p_1-3p_2[/tex]
Start by calculating the total revenue (R):
[tex]R = p_1q_1 + p_2q_2[/tex]
[tex]R = p_1(150-2p_1-p_2) + p_2(200-p_1-3p_2)[/tex]
[tex]R = 150p_1-2p_1^2-p_1p_2 + 200p_2-p_1p_2-3p_2^2[/tex]
Collect and solve like terms
[tex]R = 150p_1+ 200p_2-2p_1^2-2p_1p_2 -3p_2^2[/tex]
Differentiate with respect to pi and to p2, respectively
[tex]\frac{dR}{dp_1} = 150 -4p_1 - 2p_2[/tex]
[tex]\frac{dR}{dp_2} = 200 -2p_1 - 6p_2[/tex]
Equate both to 0, to get the critical point
[tex]150 -4p_1 - 2p_2 = 0[/tex]
[tex]200 -2p_1 - 6p_2 = 0[/tex]
Solve for p1 in [tex]150 -4p_1 - 2p_2 = 0[/tex]
[tex]4p_1 = 150 - 2p_2[/tex]
[tex]p_1 = 37.5 - 0.5p_2[/tex]
Substitute [tex]p_1 = 37.5 - 0.5p_2[/tex] in [tex]200 -2p_1 - 6p_2 = 0[/tex]
[tex]200 - 2(37.5 - 0.5p_2) - 6p_2 = 0[/tex]
[tex]200 - 75 - p_2 - 6p_2 = 0[/tex]
[tex]125 - 7p_2 = 0[/tex]
[tex]-7p_2 =-125[/tex]
[tex]p_2 = 25[/tex]
Substitute [tex]p_2 = 25[/tex] in [tex]p_1 = 37.5 - 0.5p_2[/tex]
[tex]p_1 = 37.5 - 0.5 * 25[/tex]
[tex]p_1 = 37.5 - 12.5[/tex]
[tex]p_1 = 25[/tex]
So, we have:
[tex]p_1 = p_2 = 25[/tex]
This implies that the prices should be set to #25.
The maximum possible revenue is:
[tex]R = 150p_1+ 200p_2-2p_1^2-2p_1p_2 -3p_2^2[/tex]
[tex]R = 150 * 25 + 200 * 25 -2 * 25^2 - 2 * 25 * 25 - 3 * 25^2[/tex]
[tex]R = 4375[/tex]
The maximum revenue is #4375
The maximum possible revenue is 4375.
How to calculate the revenue?From the information given, the following can be deduced:
Q₁ = 150 - 2P₁ - P₂
Q₁ = 150 - 2P₁ - P₂Q₂ = 200 - P₁ - 3P₂
The total revenue will be:
R = P₁Q₁+ P₂Q₂
R = P₁(150 - 2P₁ - P₂) + P₂(200 - P₁ - 3P₂)
R = 150P₁ + 200P₂ - 2P₁² - 2P₁P₂ - 3P₂²
To maximize, differentiate it in both the direction of P₁ and P₂.
d/dP₁ = 150 - 4P₁ - 2P₂
d/dP₂ = 200 - 2P₁ - 6P₂.
Solving for P₁ goes thus:
4P₁ = 150 - 2P₂
Divide through by 4
P₁ = 37.5 - 0.5P₂
Since 200 - 2P₁ - 6P₂ = 0
200 - 2(37.5 - 0.5P₂) - 6P₂ = 0.
P₂ = 25
Therefore, the revenue will be:
= 150P₁ + 200P₂ - 2P₁² - 2P₁P₂ - 3P₂²
= (150 × 25) + (200 × 25) - (2 × 25 × 25) - (3 × 25²)
= 4375
In conclusion, the revenue is 4375.
Learn more about revenue on:
https://brainly.com/question/25623677
Simplify Help me please with this question!!!!!
Ella is solving the equation (x+5)2=0 . She writes that the solutions are x=5and−5 .
Anne looks at her work and disagrees. She says that only x=−5 is a solution. Who do you agree with? Explain your reasoning.
Answer:
Anne
Step-by-step explanation:
Let's solve it by replacing x by 5, then -5.
(5+5)2=0
10*2=0
20=0
(-5+5)2=0
-5 and 5 cancel each other out, and 0 times anything is 0.
0=0
So Anne is correct.
--
hope it helps
Select ALL TRUE statements about Linear Functions:
Group of answer choices
The degree of the function is one.
The y values change by a common difference.
The graph is a straight line.
Vertex form is used for graphing.
Step-by-step explanation:
The degree of the function is one: Correct
The y values change by a common difference: incorrect
The graph is a straight line: Correct
Vertex form is used for graphing: Incorrect
Hope that helps :)
I had $370.00. My Mom gave $150.00. My Dad gave $150.00. My Aunt and Uncle gave me $100.00. I had another $30.00. How much did I have? I will delete the right answers.
Answer:400
Step-by-step explanation:
Solve for x. Show your work:
2x+17+3x = 4x+3x+3
Answer:
The answer is 7
Step-by-step explanation:
2x+17+3x=4x+3x+3
5x+17=7x+3
5x-7x=3-17
-2x=-14
x=7
The following is a data set of five quiz scores.
92, 88, 90, 96, 84
What is the mean absolute deviation of the scores?
Answer:
The mean absolute deviation is 36.8. Hope this was helpful
Step-by-step explanation:
I need a step by step example of how to get the answer if you don't mind.
Answer:
D
Step-by-step explanation:
This equation may look hard, but all of the steps are in the question, so all we need to do now is plug in the numbers!
The question asks us to round all numbers to the nearest whole number before plugging them in, so we'll round 11.3 down to 11.
Now, we just need to plug in 11 to the equation to ger A=11²pi
11 squared is 121, so now we just need to multiply 121 by pi.
Pi is a long number, but again, the equation asks us to round to the nearest whole number, so since pi is 3.143, we can round that to three.
Now all we need to do is multiply 121 by 3 to get 363!
I hope this helps.
What is the answer please help no links
Answer:
The answer is 432
Step-by-step explanation:
Multiply
1. Find
A) 35
B) 47.5
C) 67.5
D) 95
Answer:
i am pretty sure it is 95
Step-by-step explanation:
Answer:
B IS THE ANSWER.
Step-by-step explanation:
The angle is less than 50 degrees but more than 30.
PLSSSSSSSSSSS HELP ASAPPP
Answer:
C
Step-by-step explanation:
400*.035 = 14 *2 = 28
250*.0325 = 8.125 *2 = 16.25
28 + 16.25 = 44.24
44.25+650 = 694.25
Please help! What's the perimeter of Trapezoid ABCD?
Answer and explanation please! <3
Answer:
Step-by-step explanation:
The formula is P= a+b+c+d
a=base
b=base
c=side
d=side
Please search perimeter of a trapezoid. It will provide the answer.
Answer:
Perimeter = 19.77 units
Step-by-step explanation:
Perimeter = AB + BC + CD + AD
BC = 5
AD = 8
AB² = 2² + 3² = 4 + 9 = 13
AB = √13 = 3.61
CD² = 1² + 3² = 1 + 9 = 10
CD = √10 = 3.16
Perimeter = 3.61 + 5 + 3.16 + 8 = 19.77
ANSWER ASAP! ALL SCAM LINKS WILL BE REPORTED.
Answer:
y=55+15x
Step-by-step explanation:
Answer:
The answer is (C) y = 55 + 15 x
Step-by-step explanation:
This is because the cost of the plan must be added to the cost of the lines to find the total cost. The equation for option (C) correctly depicts that y the plan, needs to be added to x the lines. This equation correctly shows the relationship between the two numbers.
Four boxes hold 36
apples. How many
apples are in 9 boxes?
Answer:
86 apples
Step-by-step explanation:
Hope this helps and have a great day!!!!
the nswer is 81 36/4=9
9x9=81
A hairstylist charges $15
Answer:
Ok.....
Step-by-step explanation:
Was that a question or was that the price you paid for getting a hair cut.
PLEASE HELP AND EXPLAIN IT FOR ME :(
Answer:
15 x 10 x 20 =
Step-by-step explanation:
Answer:
1,100
Step-by-step explanation:
15*10*2=300
20*15*2=600
20*10=200
300+600+200=1,100
you need to find the surface area which means the area of all the sides except the top(bc i think its open???)
a shortcut i used was multiplying sides that have the same area by 2. for example, the side 15*10, there was another side like that, so i multiplied by two instead of having to solve for the other side individually, does that make sense?
check my math if im wrong
Using compatible numbers, which is the best estimate of (28.5)(7.1)?
36
40
210
300
Answer:
210
Step-by-step explanation:
29*7 = 203, 203 is the closest number to 210!
Answer:
210
Step-by-step explanation:
What is the solution set for this inequality?
-8x + 32 -16
x < 6
x > 6
x > -2
x < -2
Answer:
x>-2
Step-by-step explanation:
-8x+32-16<0
-8x<16
divide both sides by -8
x>-2
that's because when you divide by a negative your inequality sign changes
help me u get brainliest plus more points :D
Answer:
6 is 56.25
7 is 97.50
Step-by-step explanation:
Un tercio es menor que cuatro centésimos.?
Answer:
no por que 1/3 es menor que 4
Step-by-step explanation:
Solve the equation for solutions over the interval [0°, 360°). 7tanθ−7/3cotθ=0
Answer:
Step-by-step explanation:
[tex]7\tan \theta-\frac{7}{3}\cot \theta=0\\\tan \theta=\frac{1}{3} \cot \theta\\\tan^2\theta=\frac{1}{3}\\\tan \theta=\pm \frac{1}{\sqrt{3}}\\when ~\tan \theta=\frac{1}{\sqrt{3}}=tan 30,tan (180+30)\\\theta=30^\circ ,210^\circ\\when~ \tan \theta=-\frac{1}{\sqrt{3}}=\tan (180-30),tan(360-30)\\\theta=150^\circ,330^\circ[/tex]
solution set is {30,150,210,330}
A quadrilateral has angles that measure 115, 97, and 68. What is the measure of the missing angle? Plz help me I don't know the answer!!!
A.45
B. 115
C.68
D.80
Answer:
Step-by-step explanation:
The sides of a quadrilateral always add up to 360°.
Missing angle = 360-115-97-68 = 80°
Answer:
D. 80°
Step-by-step explanation:
A quadrilateral always add up to 360°
To find the missing value we first have to add the given number up:
115 + 97 + 68 = 280°
Now we minus our value from 360° :
360° - 280° = 80°
Hope this helps!
A political analyst wanted to see whether there is an association between political affiliation and where a person lives. The analyst took a random sample of 1,250 people in a state and asked them which political party they were affiliated with and what county they lived in. The following are the hypotheses the analyst tested.
H0: There is no association between party affiliation and the county in which a person lives.
Ha: There is an association between party affiliation and the county in which a person lives.
The chi-square test statistic and p-value of the hypothesis test were 19.78 and 0.003 respectively. Which of the following conclusions should be made about political affiliation and where a person lives?
A) There is convincing statistical evidence to suggest that political affiliation and where a person lives are independent.
B) There is convincing statistical evidence to suggest that political affiliation and where a person lives are dependent.
C) There is convincing statistical evidence to prove that political affiliation and where a person lives are dependent.
D) There is not convincing statistical evidence to suggest that political affiliation and where a person lives are independent.
E) There is not convincing statistical evidence to suggest that political affiliation and where a person lives are dependent.
Answer:
B) There is convincing statistical evidence to suggest that political affiliation and where a person lives are dependent.
Step-by-step explanation:
Chi square test value is greater than the p-value which suggest that we can reject the null hypothesis and there is strong evidence supporting the statement of alternative hypothesis.
The conclusions, made for political affiliation, that there is convincing statistical evidence to suggest that political affiliation and where a person lives are dependent.
What is random sample?Random sample is the way to choose a number or sample in such a manner that each of the sample of the group has an equal probability to be chosen.
The analyst took a random sample of 1,250 people in a state. The following are the hypotheses the analyst tested-
H0: There is no association between party affiliation and the county in which a person lives.Ha: There is an association between party affiliation and the county in which a person lives.The chi-square test statistic and p-value of the hypothesis test were 19.78 and 0.003 respectively.
The value of chi square is greater than p-value as,
[tex]19.78 > 0.003[/tex]
Therefore, the null hypothesis can be rejected. There is an association between party affiliation and the county in which a person lives.
Hence, the conclusions, made for political affiliation, that there are convincing statistical evidence to suggest that political affiliation and where a person lives are dependent.
Learn more about the random sample here;
https://brainly.com/question/17831271
Help SOMEONE???? MATH IS SO HARD!!!
Answer:
16. 70%
17. 100%
Step-by-step explanation:
16. As seen here, there are 10 marbles in total. Out of those marbles, there are 7 green marbles.
We can set up a "part to whole" fraction such as 7/10
Then we just find the % value by finding an equivalent "x to 100" ratio (percentages go up to 100)
7/10 = x/100
1000 = 7x
70 = x
17. Fortunately, there doesn't seem to need too much math involved as the only possible marbles are red and green. Therefore, you have a 100% chance of getting a green or red marble.
Hope that helps a bit!
Given the following data, find the weight that represents the 28 percentile
Answer:
so I just tried to find the mean (average) and it was: 6.3
I don’t know what the answer for this
Answer:
isoceles and right
Step-by-step explanation:
Answer:
I think the answer us B........
The figure shows a gas tank in the form of a rectangular prism that is 40% full. How many more gallons of gas will it take to fill the tank? (1 gallon = 231 in.3)
Answer:
10.8 gallons
Step-by-step explanation:
First change everything to inches:
2.75 ft = 33 in
1.5 ft = 18 in
Volume of tank = lwh = (33)(18)(7) = 4158 in³
The tank is 40% full, so only 60% is need to fill it. To find 60%, multiply 4158 by 0.6 = 2494.8 in³
Now find out how much 2494.8 in³ is in gallons:
231 in³ = 1 gallon
1 in³ = 1/231 gallons
2494.8 = (1/231)(2494.8) gallons = 10.8 gallons
A sample of 12 joint specimens of a particular type gave a sample mean proportional limit stress of 8.55 MPa and a sample standard deviation of 0.76 MPa. (a) Calculate and interpret a 95% lower confidence bound for the true average proportional limit stress of all such joints. (Round your answer to two decimal places.) MPa
Answer:
95% of the lower confidence interval for the true average proportional limit stress of all such joints
7.7829
95% of the confidence interval for the true average proportional limit stress of all such joints
(7.7829, 9.3171)
Step-by-step explanation:
Step(i):-
Given that the sample size 'n' = 12
Mean of the sample = 8.55
The standard deviation of the sample (S) = 0.76
Step(ii):-
95% of the confidence interval is determined by
[tex](x^{-} - t_{\frac{\alpha }{2} } \frac{S}{\sqrt{n} } , x^{-} + t_{\frac{\alpha }{2} } \frac{S}{\sqrt{n} })[/tex]
Degrees of freedom = n-1 = 12-1 = 11
t₀.₀₂₅ = 3.4966
[tex](8.55 - 3.4966\frac{0.76}{\sqrt{12} } , 8.55 + 3.4966 \frac{0.76}{\sqrt{12} })[/tex]
(8.55 - 0.7671 , 8.55+0.7671)
(7.7829, 9.3171)
Final answer:-
95% of the confidence interval for the true average proportional limit stress of all such joints
(7.7829, 9.3171)
A gumball machine contains gumballs in several different colors.
orange 26
yellow 2
green 3
purple 1
red 1
If you purchase one gumball from the machine, what is the probability it will be green?
Write your answer as a fraction or whole number.
Determine the margin of error for a 90% confidence interval to estimate the population mean when s = 40 for the sample sizes below.
a) n=14
b) n = 28
c) n = 45
a) The margin of error for a 90% confidence interval when n = 14 is
(Round to two decimal places as needed.)
b) The margin of error for a 90% confidence interval when n=28 is
(Round to two decimal places as needed.)
c) The margin of error for a 90% confidence interval when n = 45 is
(Round to two decimal places as needed.)
Answer:
a) The margin of error for a 90% confidence interval when n = 14 is 18.93.
b) The margin of error for a 90% confidence interval when n=28 is 12.88.
c) The margin of error for a 90% confidence interval when n = 45 is 10.02.
Step-by-step explanation:
The t-distribution is used to solve this question:
a) n = 14
The first step to solve this problem is finding how many degrees of freedom, we have. This is the sample size subtracted by 1. So
df = 14 - 1 = 13
90% confidence interval
Now, we have to find a value of T, which is found looking at the t table, with 13 degrees of freedom(y-axis) and a confidence level of [tex]1 - \frac{1 - 0.9}{2} = 0.95[/tex]. So we have T = 1.7709
The margin of error is:
[tex]M = T\frac{s}{\sqrt{n}} = 1.7709\frac{40}{\sqrt{14}} = 18.93[/tex]
In which s is the standard deviation of the sample and n is the size of the sample.
The margin of error for a 90% confidence interval when n = 14 is 18.93.
b) n = 28
27 df, T = 1.7033
[tex]M = T\frac{s}{\sqrt{n}} = 1.7033\frac{40}{\sqrt{28}} = 12.88[/tex]
The margin of error for a 90% confidence interval when n=28 is 12.88.
c) The margin of error for a 90% confidence interval when n = 45 is
44 df, T = 1.6802
[tex]M = T\frac{s}{\sqrt{n}} = 1.6802\frac{40}{\sqrt{45}} = 10.02[/tex]
The margin of error for a 90% confidence interval when n = 45 is 10.02.