SoCal
Hollywood
Hey Clive, I know you love your Maths so I have a question for you and I am wondering if you can help me out with it. We are given this equation:
Profit(2) = (P2 - 3.94)(49.52 - 5.48P2 + 1.40P1)
and we have to differentiate Profits with respect to P2 (treating P1 as a constant) and then maximise it by setting the expression equal to 0 and solving the resulting equation for P1. The final answer should be P2 = 6.49 + .1277P1.
Maths used to be my best subject but I guess this is what happens when you don't do it for over a year, coupled with the fact that our Lecturer teaches us nothing and expects us to come up with the method ourselves. Anyway, any help would be appreciated. Thanks dude.
Profit(2) = (P2 - 3.94)(49.52 - 5.48P2 + 1.40P1)
and we have to differentiate Profits with respect to P2 (treating P1 as a constant) and then maximise it by setting the expression equal to 0 and solving the resulting equation for P1. The final answer should be P2 = 6.49 + .1277P1.
Maths used to be my best subject but I guess this is what happens when you don't do it for over a year, coupled with the fact that our Lecturer teaches us nothing and expects us to come up with the method ourselves. Anyway, any help would be appreciated. Thanks dude.