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Revenue  A small business assumes that the demand function for one of its new products can be modeled by  p = Cekx. When p = $45, x = 1000 units, and when p = $35, x = 1400 units.

Revenue  A small business assumes that the demand function for one of its new products can be modeled by  p = Cekx. When p = $45, x = 1000 units, and when p = $35, x = 1400 units.

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter9: Systems Of Equations And Inequalities
Section9.4: Linear Programming
Problem 18E
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Revenue

 A small business assumes that the demand function for one of its new products can be modeled by 
p = Cekx.
When p = $45, x = 1000 units, and when p = $35, x = 1400 units.
Revenue A small business assumes that the demand function for one of its new products can be modeled by p = Cekx. When p = $45, x = 1000 units, and when p = $35, x = 1400 units. (a) Solve for Cand k. (Round C to four decimal places and k to seven decimal places.) C = k = (b) Find the values of x and p that will maximize the revenue for this product. (Round x to the nearest integer and p to two decimal places.) units
Transcribed Image Text:Revenue A small business assumes that the demand function for one of its new products can be modeled by p = Cekx. When p = $45, x = 1000 units, and when p = $35, x = 1400 units. (a) Solve for Cand k. (Round C to four decimal places and k to seven decimal places.) C = k = (b) Find the values of x and p that will maximize the revenue for this product. (Round x to the nearest integer and p to two decimal places.) units
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