A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations are given below. p = 400 – 0.5x and C(x) = 20,000 + 140x (A) What price should the company charge for the phones, and how many phones should be produced to maximize the weekly revenue? What is the maximu weekly revenue? The company should produce (Round to the nearest cent as needed.) phones each week at a price of $ The maximum weekly revenue is $ (Round to the nearest cent as needed.) (B) What price should the company charge for the phones, and how many phones should be produced to maximize the weekly profit? What is the maximum weekly profit? The company should produce (Round to the nearest cent as needed.) phones each week at a price of $ The maximum weekly profit is $ - (Round to the nearest cent as needed.)

A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations are given below. p = 400 – 0.5x and C(x) = 20,000 + 140x (A) What price should the company charge for the phones, and how many phones should be produced to maximize the weekly revenue? What is the maximu weekly revenue? The company should produce (Round to the nearest cent as needed.) phones each week at a price of $ The maximum weekly revenue is $ (Round to the nearest cent as needed.) (B) What price should the company charge for the phones, and how many phones should be produced to maximize the weekly profit? What is the maximum weekly profit? The company should produce (Round to the nearest cent as needed.) phones each week at a price of $ The maximum weekly profit is $ - (Round to the nearest cent as needed.)

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter11: Price-searcher Markets With High Entry Barriers

Section: Chapter Questions

Problem 14CQ

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