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
icon
Related questions
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.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Recommended textbooks for you
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning