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The Camera Shop selis two popular models of digital SLA cameras (Camera A Price: 200...

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Accounting

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The Camera Shop selis two popular models of digital SLA cameras (Camera A Price: 200 , Camera B Price: 300 ). The sales of these products are not independent of esch other, but rather if the price of one increase, the sales of the other will increase. In economics, these two camera models are called substitutable products. The store wishes to eatablish a pricing policy to maximize revenue from these products. A study of price and sales data shows the follewing relationships between the euartity sold (N) and prices (P) of each modell NA=1950.6PA+0.25PgND=301+0.08PA0.5PB Construct a model for the total revenue anh implement it on a spreadsheet, What is the total revenwe from seiling the two arroducts based an the current prices? 5 Assume that product A price is kept at $200. Develop a data table to estimate the ootimal price for product B in order to maximize the total revenue. Vary the price of product B from $250 to $500 in increments ot $10. Max revenue occurs at Camera B price of $ The maximum revenue obtained with the above price of Camera 8 would be $

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