Lawn King Sells a Push Mower at Price P 1 and a Ride-On

The Answer is d 1 ( p 1 , p 2 ) = − 160 p 1 + 150 p 2 + 10 , 000 d _ { 1 } \left( p _ { 1 } , p _ { 2 } \right) = - 160 p _ { 1 } + 150 p _ { 2 } + 10,000 d 1 ( p 1 , p 2 ) = − 160 p 1 + 150 p 2 + 10 , 000 , d 2 ( p 1 , p 2 ) = 30 p 1 − 50 p 2 + 70 , 000 d _ { 2 } \left( p _ { 1 } , p _ { 2 } \right) = 30 p _ { 1 } - 50 p _ { 2 } + 70,000 d 2 ( p 1 , p 2 ) = 30 p 1 − 50 p 2 + 70 , 000

Lawn King Sells a Push Mower at Price P 1 and a Ride-On

The Answer is d 1 ( p 1 , p 2 ) = − 160 p 1 + 150 p 2 + 10 , 000 d _ { 1 } \left( p _ { 1 } , p _ { 2 } \right) = - 160 p _ { 1 } + 150 p _ { 2 } + 10,000 d 1 ( p 1 , p 2 ) = − 160 p 1 + 150 p 2 + 10 , 000 , d 2 ( p 1 , p 2 ) = 30 p 1 − 50 p 2 + 70 , 000 d _ { 2 } \left( p _ { 1 } , p _ { 2 } \right) = 30 p _ { 1 } - 50 p _ { 2 } + 70,000 d 2 ( p 1 , p 2 ) = 30 p 1 − 50 p 2 + 70 , 000

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Lawn King Sells a Push Mower at Price P₁ and a Ride-On

Question 3

Essay

Lawn King sells a push mower at price p₁ and a ride-on mower at price p₂.The demand function for each mower is a linear function of p₁ and p₂.Market research shows that if the price of the push mower is increased by $40, then the demand for it drops by 6400 units, while the demand for the ride-on mower increases by 1200 units.On the other hand, if the price of the ride-on mower is decreased by $60, then demand for it increases by 3000 units, while demand for the push mower drops by 9000 units.Currently, the company is selling 142,000 push mowers at a price of $300 and 19,000 ride-on mowers at a price of $1200.Find the two demand functions.

Lawn King Sells a Push Mower at Price P1 and a Ride-On

Essay

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Lawn King Sells a Push Mower at Price P₁ and a Ride-On

Correct Answer:
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