Based on market data, a shoe company estimates that the relationship between the price, p, of a pair of basketball shoes, and the quantity sold, x, can be given by the equation p x + 200. Create and 40 graph a function to represent the revenue generated by selling pairs of these shoes. How many pairs of shoes should be sold in order to maximize revenue? What price should the company charge for the shoes in order to maximize revenue?
Based on market data, a shoe company estimates that the relationship between the price, p, of a pair of basketball shoes, and the quantity sold, x, can be given by the equation p x + 200. Create and 40 graph a function to represent the revenue generated by selling pairs of these shoes. How many pairs of shoes should be sold in order to maximize revenue? What price should the company charge for the shoes in order to maximize revenue?
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.CT: Test
Problem 19CT
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