A shop sells two competing brands of socks, Levis and Gap. Each pair of socks is obtained
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A shop sells two competing brands of socks, Levis and Gap. Each pair of socks is obtained at a cost of 6 dollars per pair. The manager estimates that if he sells the Levis socks for x dollars per pair and the Gap socks for y dollars per pair, then consumers will buy 21 − 5/2x + y pairs of Levis socks and 1 + 3x − 5/2y pairs of Gap socks. How should the manager set the prices so that the profit will be maximized? Round your answers to the nearest cent.
Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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