A company produces a special new type of TV. The company has fixed costs of $452,000, and it costs $1000 to produce each TV. The company projects that if it charges a price of $2200 for the TV, it will be able to sell 700 TVs. If the company wants to sell 750 TVs, however, it must lower the price to $1900. Assume a linear demand.
A company produces a special new type of TV. The company has fixed costs of $452,000, and it costs $1000 to produce each TV. The company projects that if it charges a price of $2200 for the TV, it will be able to sell 700 TVs. If the company wants to sell 750 TVs, however, it must lower the price to $1900. Assume a linear demand.
Chapter6: Systems Of Equations And Inequalities
Section6.2: Two-variable Linear Systems
Problem 9ECP
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Transcribed Image Text:A company produces a special new type of TV. The company has fixed costs of $452,000,
and it costs $1000 to produce each TV. The company projects that if it charges a price of
$2200 for the TV, it will be able to sell 700 TVs. If the company wants to sell 750 TVs,
however, it must lower the price to $1900. Assume a linear demand.
What price should be set to earn maximum profits?
It is $
per TV.
(Round answer to two decimal places.)
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