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Question #2) Hypothetical Story Line Imagine that you have been hired as Amazon VA to increase the demand of a product. As the student of the finance you are aware that the demand varies with the price and vice versa. So, after looking at the data provided by the Amazon, you mathematically modelled price, in terms of revenue as given below. You were sure that by determining the right price you can maximize the revenue and the demand. Therefore, you planned to increase the demand by manipulating the price in terms of revenue as given below. R = f(p) = -20 p ?+ 10p a) Determine the price which should be charged in order to maximize total revenue. In other words find the maxima. b) What is the maximum profit of the annual total revenue of Amazon for the product that you were hired for? In other words find the maximum point.

Question #2) Hypothetical Story Line Imagine that you have been hired as Amazon VA to increase the demand of a product. As the student of the finance you are aware that the demand varies with the price and vice versa. So, after looking at the data provided by the Amazon, you mathematically modelled price, in terms of revenue as given below. You were sure that by determining the right price you can maximize the revenue and the demand. Therefore, you planned to increase the demand by manipulating the price in terms of revenue as given below. R = f(p) = -20 p ?+ 10p a) Determine the price which should be charged in order to maximize total revenue. In other words find the maxima. b) What is the maximum profit of the annual total revenue of Amazon for the product that you were hired for? In other words find the maximum point.

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter5: A Survey Of Other Common Functions
Section5.4: Combining And Decomposing Functions
Problem 18E
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Question #2) Hypothetical Story Line Imagine that you have been hired as Amazon VA to increase the demand of a product. As the student of the finance you are aware that the demand varies with the price and vice versa. So, after looking at the data provided by the Amazon, you mathematically modelled price, in terms of revenue as given below. You were sure that by determining the right price you can maximize the revenue and the demand. Therefore, you planned to increase the demand by manipulating the price in terms of revenue as given below. R = f(r) = -20 p ?+ 10p a) Determine the price which should be charged in order to maximize total revenue. In other words find the maxima. b) What is the maximum profit of the annual total revenue of Amazon for the product that you were hired for? In other words find the maximum point.
Transcribed Image Text:Question #2) Hypothetical Story Line Imagine that you have been hired as Amazon VA to increase the demand of a product. As the student of the finance you are aware that the demand varies with the price and vice versa. So, after looking at the data provided by the Amazon, you mathematically modelled price, in terms of revenue as given below. You were sure that by determining the right price you can maximize the revenue and the demand. Therefore, you planned to increase the demand by manipulating the price in terms of revenue as given below. R = f(r) = -20 p ?+ 10p a) Determine the price which should be charged in order to maximize total revenue. In other words find the maxima. b) What is the maximum profit of the annual total revenue of Amazon for the product that you were hired for? In other words find the maximum point.
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