SOLUTION: . A store sells two brands of camping chairs. The store pays $60 for each brand A chair and $80 for each brand B chair. The research department has estimated the weekly demand equa
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Question 1161006: . A store sells two brands of camping chairs. The store pays $60 for each brand A chair and $80 for each brand B chair. The research department has estimated the weekly demand equations for these two competitive prod- ucts to be 260- 3p+q Demand equation for brand A y180 +p 2q Demand equation for brand B where p is the selling price for brand A and q is the selling price for brand B (A) Determine the demands x and y when p = $ 100 and q-$120; when p $110 and q$110 (B) How should the store price each chair to maximize weekly profits? What is the maximum weekly profit? Hint: C= 60x + 80y Answer by ikleyn(52884) (Show Source):
