A retailer has been selling 2000 tablet computers a week at $250 each. The marketing department estimates that an additional 80 tablets will sell each week for every $10 that the price is lowered (a) Find the demand function. P(x) = (b) What should the price be set at in order to maximize revenue? 24 (c) If the retailer's weekly cost function is C(x) = 35,000 + 120x what price should it choose in order to maximize its profit?

Question
A retailer has been selling 2000 tablet computers a week at $250 each. The marketing department estimates that an additional 80 tablets will sell each week for every $10 that the price is lowered
(a) Find the demand function.
P(x) =
(b) What should the price be set at in order to maximize revenue?
24
(c) If the retailer's weekly cost function is
C(x) = 35,000 + 120x
what price should it choose in order to maximize its profit?
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Transcribed Image Text

A retailer has been selling 2000 tablet computers a week at $250 each. The marketing department estimates that an additional 80 tablets will sell each week for every $10 that the price is lowered (a) Find the demand function. P(x) = (b) What should the price be set at in order to maximize revenue? 24 (c) If the retailer's weekly cost function is C(x) = 35,000 + 120x what price should it choose in order to maximize its profit?

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