Given cost and price (demand) functions C(q)=130q+47,800 and p(q)=−2.7q+820, what price should the company set to earn $55,000 in revenue? The price should be a low of $enter your response here or a high of $enter your response here.
Given cost and price (demand) functions C(q)=130q+47,800 and p(q)=−2.7q+820, what price should the company set to earn $55,000 in revenue? The price should be a low of $enter your response here or a high of $enter your response here.
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.3: Equations Involving Decimals And Problem Solving
Problem 51PS
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Question
Given cost and price (demand) functions
C(q)=130q+47,800
and
p(q)=−2.7q+820,
what price should the company set to earn
$55,000
in
revenue?
The price should be a low of
$enter your response here
or a high of
$enter your response here.
(Round answer to nearest cent.)
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