A business has found that it can sell 760 items if it sets its price to $64.88. However, if it lowers its price to $46.4, it can sell 960 items. (a) Find the linear demand equation (price function) for selling x items. (round to 4 decimal places) It costs the business $6.65 per item to produce and they have $3,850 in overhead each month. (b) Find the linear Cost, and quadratic Revenue and Profit functions for producing/selling x items: (round to 4 decimal places)
A business has found that it can sell 760 items if it sets its price to $64.88. However, if it lowers its price to $46.4, it can sell 960 items. (a) Find the linear demand equation (price function) for selling x items. (round to 4 decimal places) It costs the business $6.65 per item to produce and they have $3,850 in overhead each month. (b) Find the linear Cost, and quadratic Revenue and Profit functions for producing/selling x items: (round to 4 decimal places)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section1.3: Lines
Problem 92E
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A business has found that it can sell 760 items if it sets its price to $64.88. However, if it lowers its price to $46.4, it can sell 960 items.
(a) Find the linear demand equation (price function) for selling x items. (round to 4 decimal places)
It costs the business $6.65 per item to produce and they have $3,850 in overhead each month.
(b) Find the linear Cost, and quadratic Revenue and Profit functions for producing/selling x items: (round to 4 decimal places)
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