A manufacture has been selling 1850 television sets a week at $510 each. A market survey indicates that for each $16 rebate offered to a buyer, the number of sets sold will increase by 160 per week. a) Find the demand function p(x), where x is the number of the television sets sold per week. p(x)=    b) How large rebate should the company offer to a buyer, in order to maximize its revenue?   c) If the weekly cost function is 157250+170x, how should it set the size of the rebate to maximize its profit?

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter12: Algebra Of Matrices
Section12.CR: Review Problem Set
Problem 37CR
icon
Related questions
Question

A manufacture has been selling 1850 television sets a week at $510 each. A market survey indicates that for each $16 rebate offered to a buyer, the number of sets sold will increase by 160 per week.

a) Find the demand function p(x), where x is the number of the television sets sold per week.
p(x)=   

b) How large rebate should the company offer to a buyer, in order to maximize its revenue?
 

c) If the weekly cost function is 157250+170x, how should it set the size of the rebate to maximize its profit?
 

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
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning