A company produces a special new type of TV. The company has fixed costs of $455,000, 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 800 TVs. If the company wants to sell 850 TVs, however, it must lower the price to $1900. Assume a linear demand. If the company sets the price at $3400, how much profit can it earn? It can expect to earn/lose $ (Round answer to nearest dollar.)

A company produces a special new type of TV. The company has fixed costs of $455,000, 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 800 TVs. If the company wants to sell 850 TVs, however, it must lower the price to $1900. Assume a linear demand. If the company sets the price at $3400, how much profit can it earn? It can expect to earn/lose $ (Round answer to nearest dollar.)

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter6: Linear Systems

Section6.8: Linear Programming

Problem 3SC: In Example 3, if the accountant earns a profit of 100 on each individual return and a profit of 175...

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