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An electronics store sells two popular models of wireless headphones, model A and model B. The sales of these products a
Posted: Mon Jul 11, 2022 11:28 am
by answerhappygod
- An Electronics Store Sells Two Popular Models Of Wireless Headphones Model A And Model B The Sales Of These Products A 1 (42.98 KiB) Viewed 26 times
An electronics store sells two popular models of wireless headphones, model A and model B. The sales of these products are not independent of each other (in economics, we call these substitutable products because if the price of one increases, sales of the other will increase). 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 =25-0.56PA +0.39PB NB=31+0.09P-0.59PB Develop a spreadsheet for calculating the total revenue if PA = $16 and PB = $26. Design it so that the price-demand function parameters can easily be changed. Complete the spreadsheet below. (Type integers or decimals. Round the quantities to the nearest integer as needed. Do not include the $ symbol in your answers.) A E F G Coeff Price B Quantity Sold 8 1 23 2 45 Model A B **** C B Model Parameters for QTY Sold Price Constant Coeff Price A Total Revenue Revenue