Revenue and profit functions

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Revenue and profit functionsp:-

A company manufactures 10- and 3-speed bicycles. The weekly demand and cost functions are

462_Equation 6.jpg

where $p is the price of a 10-speed bicycle, $q is the price of a 3-speed bicycle, x is the weekly demand for 10-speed bicycles, y is the weekly demand for 3-speed bicycles, and C(x, y) is the cost function. Find R_y(10,5) and P_y(10,5) and interpret the results.

Reference no: EM131270286

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