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Establish a pricing policy to maximize revenue

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Reference no: EM132677246

A company sells two models of a product, Model A and Model B. The sales of these models are dependent of each other. The company wants to establish a pricing policy to maximize revenue from these models. A study of price and sales data shows the following relationships between the quantity sold (N) and prices (P) of each model:

NA = 30 - 0.58PA + 0.35PB

NB = 42 + 0.15PA - 0.60PB

Reference no: EM132677246

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