A manufacture has been selling 1400 television sets a week at $480 each. A market survey indicates that for each $20 rebate offered to a buyer, the number of sets sold will increase by 200 per week. a) Find the function representing the demand p(x), where x is the number of the television sets sold per week and p(x) is the corresponding price. p(x) = 480-(x-1400)/(10) b) How large rebate should the company offer to a buyer, in order to maximize its revenue? 170 dollars c) If the weekly cost function is 112000 + 160x, how should it set the size of the rebate to maximize its profit? dollars
A manufacture has been selling 1400 television sets a week at $480 each. A market survey indicates that for each $20 rebate offered to a buyer, the number of sets sold will increase by 200 per week. a) Find the function representing the demand p(x), where x is the number of the television sets sold per week and p(x) is the corresponding price. p(x) = 480-(x-1400)/(10) b) How large rebate should the company offer to a buyer, in order to maximize its revenue? 170 dollars c) If the weekly cost function is 112000 + 160x, how should it set the size of the rebate to maximize its profit? dollars
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter9: Polynomial And Rational Functions
Section9.4: Graphing Polynomial Functions
Problem 44PS: A company determines that its weekly profit from manufacturing and selling x units of a certain item...
Related questions
Topic Video
Question
need help with part c. I DID REST
Transcribed Image Text:A manufacture has been selling 1400 television sets a week at $480 each. A market survey indicates that for each $20 rebate offered to a buyer,
the number of sets sold will increase by 200 per week.
a) Find the function representing the demand p(x), where x is the number of the television sets sold per week and p(x) is the corresponding price.
p(x) =
480-(x-1400)/(10)
b) How large rebate should the company offer to a buyer, in order to maximize its revenue?
170
dollars
c) If the weekly cost function is 112000 + 160x, how should it set the size of the rebate to maximize its profit?
dollars
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 5 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.Recommended textbooks for you
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning