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Find the revenue maximizing prices

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Question: Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demand for these two cameras are as follows: DS 5 demand for the Sky Eagle, PS is the selling price of the Sky Eagle, DH is the demand for the Horizon, and PH is the selling price of the Horizon.

DS = 222 - 0.60PS + 0.35PH

DH = 270 + 0.10PS - 0.64PH

The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function for these two models, and find the revenue maximizing prices.

Reference no: EM131668950

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