Assume that the demand for tuna in a small coastal town is given by 800,000 p = q1.5 where g is the number of pounds of tuna that can be sold in a month at p dollars per pound, Assume that the town's fishery wishes to sell at least 5,000 pounds of tuna per month. (a) How much should the town's fishery charge for tuna to maximize monthly revenue? HINT [See Example 3, and don't neglect endpoints.] (Round your answer to the nearest cent.) p = $ 22.62 per Ib (b) How much tuna will It sell per month at that price? q = 5000 Ib (c) What will be its resulting revenue? (Round your answer to the nearest dollar.) $ 113100 per month

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Assume that the demand for tuna in a small coastal town is given by
800,000
p =
91.5
where q is the number of pounds of tuna that can be sold in a month at p dollars per pound. Assume that the town's fishery wishes to sell at least 5,000 pounds of tuna per month.
(a) How much should the town's fishery charge for tuna to maximize monthly revenue? HINT [See Example 3, and don't neglect endpoints.] (Round your answer to the nearest
cent.)
p = $ 22.62
per Ib
(b) How much tuna will it sell per month at that price?
9. = 5000
Ib
(c) What will be its resulting revenue? (Round your answer to the nearest dollar.)
$ 113100
per month
Transcribed Image Text:Assume that the demand for tuna in a small coastal town is given by 800,000 p = 91.5 where q is the number of pounds of tuna that can be sold in a month at p dollars per pound. Assume that the town's fishery wishes to sell at least 5,000 pounds of tuna per month. (a) How much should the town's fishery charge for tuna to maximize monthly revenue? HINT [See Example 3, and don't neglect endpoints.] (Round your answer to the nearest cent.) p = $ 22.62 per Ib (b) How much tuna will it sell per month at that price? 9. = 5000 Ib (c) What will be its resulting revenue? (Round your answer to the nearest dollar.) $ 113100 per month
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