The Camera Shop sells two popular models of digital SLR cameras (Camera A Price: 200, Camera A Price: 300). 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 = 195 - 0.5PA + 0.35PB
NB = 300 + 0.06PA - 0.5PB
Construct a model for the total revenue and implement it on a spreadsheet. Develop two-way data table to estimate the optimal prices for each product in order to maximize the total revenue. Vary each price from $250 to $500 in increments of $10.
a. Max profit occurs at Camera A price of $ .
b. Max profit occurs at Camera B price of $
Answers: 1
Business, 21.06.2019 22:30
Match the vocabulary word to the correct definition. 1. sexual harassment 2. terminate 3. recruitment 4. professional development 5. union a. any unwanted sexual attention, the suggestions that maintaining one’s job or professional advancement depends on sexual favors, or verbal and/or physical harassment of a sexual nature b. to fire from a job or end a professional relationship c. an organization of those in the same industry who join together to more effectively bargain with employers d. the process of attracting and hiring employees e. continuing education in a chosen field
Answers: 1
Business, 22.06.2019 10:00
Carrie works at a canned food production factory. the government wanted to give a boost to the salt industry, so it lined up numerous subsidies and tax exemptions for the sector. this lead to a decrease in production costs. this also meant that consumers could access canned foods at a lower price, which lead to an increase in demand for the product. which kind of economic system is carrie’s company dealing with? carrie’s company is dealing with a/an economy.
Answers: 2
Business, 22.06.2019 14:20
Jaynet spends $50,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $95,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 35 paintings per year at a price of $6,000 each: a. what are her accounting profits? b. what are her economic profits?
Answers: 1
Business, 22.06.2019 14:40
Which of the following statements about revision is most accurate? (a) you must compose first drafts quickly (sprint writing) and return later for editing. (b) careful writers always revise as they write. (c) revision is required for only long and complex business documents. (d) some business writers prefer to compose first drafts quickly and revise later; others prefer to revise as they go.
Answers: 3
The Camera Shop sells two popular models of digital SLR cameras (Camera A Price: 200, Camera A Price...
History, 20.10.2019 12:10
Biology, 20.10.2019 12:10
Social Studies, 20.10.2019 12:10
Chemistry, 20.10.2019 12:10
Mathematics, 20.10.2019 12:10
History, 20.10.2019 12:10
Mathematics, 20.10.2019 12:10
Mathematics, 20.10.2019 12:10
Mathematics, 20.10.2019 12:10
Mathematics, 20.10.2019 12:10
Biology, 20.10.2019 12:10
Mathematics, 20.10.2019 12:10
Social Studies, 20.10.2019 12:10
Advanced Placement (AP), 20.10.2019 12:10