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Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 104 units of their portable media player each week when the price is set at $109.20 per unit. At a unit price of $50.40, consumers are willing to buy 300 units per week. (a) Determine the weekly demand equation for this product, assuming price, p, and quantity, x, are linearly related. (b) Determine the weekly revenue function. R(x) = (c) Determine the number of units consumers will demand weekly when the price is $67.80 per portable media player. units (d) Determine the number of units consumers will demand weekly when the revenue is maximized. units (e) Determine the price of each unit when the revenue is maximized. dollars

Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 104 units of their portable media player each week when the price is set at $109.20 per unit. At a unit price of $50.40, consumers are willing to buy 300 units per week. (a) Determine the weekly demand equation for this product, assuming price, p, and quantity, x, are linearly related. (b) Determine the weekly revenue function. R(x) = (c) Determine the number of units consumers will demand weekly when the price is $67.80 per portable media player. units (d) Determine the number of units consumers will demand weekly when the revenue is maximized. units (e) Determine the price of each unit when the revenue is maximized. dollars

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter3: Functions And Graphs
Section3.3: Lines
Problem 60E
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Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 104 units of their portable media player each week when the price is set at $109.20 per unit. At a unit price of $50.40, consumers are willing to buy 300 units per week. (a) Determine the weekly demand equation for this product, assuming price, p, and quantity, x, are linearly related. (b) Determine the weekly revenue function. R(x) = (c) Determine the number of units consumers will demand weekly when the price is $67.80 per portable media player. units (d) Determine the number of units consumers will demand weekly when the revenue is maximized. units (e) Determine the price of each unit when the revenue is maximized. dollars
Transcribed Image Text:Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 104 units of their portable media player each week when the price is set at $109.20 per unit. At a unit price of $50.40, consumers are willing to buy 300 units per week. (a) Determine the weekly demand equation for this product, assuming price, p, and quantity, x, are linearly related. (b) Determine the weekly revenue function. R(x) = (c) Determine the number of units consumers will demand weekly when the price is $67.80 per portable media player. units (d) Determine the number of units consumers will demand weekly when the revenue is maximized. units (e) Determine the price of each unit when the revenue is maximized. dollars
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