A company produces a special new type of TV. The company has fixed costs of $486,000, and it costs $1100 to produce each TV. The company projects that if it charges a price of $2400 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 $2100. Assume a linear demand. If the company sets the price at $3600, how much profit can it earn? It can expect to earn/lose $ (Round answer to nearest dollar.)

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter6: Systems Of Equations And Inequalities
Section6.2: Two-variable Linear Systems
Problem 9ECP
icon
Related questions
Question
100%
Help
A company produces a special new type of TV. The company has fixed costs of $486,000, and it costs $1100 to produce each TV. The company projects that if it charges
a price of $2400 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 $2100. Assume a linear demand.
If the company sets the price at $3600, how much profit can it earn?
It can expect to earn/lose $
(Round answer to nearest dollar.)
Transcribed Image Text:A company produces a special new type of TV. The company has fixed costs of $486,000, and it costs $1100 to produce each TV. The company projects that if it charges a price of $2400 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 $2100. Assume a linear demand. If the company sets the price at $3600, how much profit can it earn? It can expect to earn/lose $ (Round answer to nearest dollar.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning