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A company produces a special new type of TV. The company has fixed costs of $478,000, and it costs $1200 to produce each TV. The company projects that if it charges a price of $2500 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 TVs, however, it must lower the price to $2200. Assume a linear demand. What is the maximum profit that can be reached? It is $. (Round answer to nearest cent.)

A company produces a special new type of TV. The company has fixed costs of $478,000, and it costs $1200 to produce each TV. The company projects that if it charges a price of $2500 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 TVs, however, it must lower the price to $2200. Assume a linear demand. What is the maximum profit that can be reached? It is $. (Round answer to nearest cent.)

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 23EQ: 23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...
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A company produces a special new type of TV. The company has fixed costs of $478,000, and it costs $1200 to produce each TV. The company projects that if it charges a price of $2500 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 TVs, however, it must lower the price to $2200. Assume a linear demand. What is the maximum profit that can be reached? It is $. (Round answer to nearest cent.) /1) /1) 0/1) 0/1) 0/1) 0/1)
Transcribed Image Text:A company produces a special new type of TV. The company has fixed costs of $478,000, and it costs $1200 to produce each TV. The company projects that if it charges a price of $2500 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 TVs, however, it must lower the price to $2200. Assume a linear demand. What is the maximum profit that can be reached? It is $. (Round answer to nearest cent.) /1) /1) 0/1) 0/1) 0/1) 0/1)
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