Some time ago, a consultant formulated the following linear model of demand for online novels, where q is the monthly demand for an online bookstore's online novels at a price of p dollars per novel.9%3D —60р + 910(a) Use this model to express the monthly revenue R as a function of the unit price p.R(p) =Hence, determine the price you should charge for a maximum monthly revenue. (Round your answer to the nearest cent.)$(b) Author royalties and copyright fees cost the company an average of $5 per novel, and the monthly cost of operating and maintaining the online publishing service amounts to $800 per month.Express the monthly profit P as a function of the unit price p.P(p) =Hence, determine the unit price you should charge for a maximum monthly profit. (Round your answer to the nearest cent.)What is the resulting profit (or loss)? (Round your answer to the nearest cent.)

Here, the monthly demand function is: q=-60p+910 where p is the price in dollars per online novel…

Some time ago, a consultant formulated the following linear model of demand for online novels, where q is the monthly demand for an online bookstore's online novels at a price of p dollars per novel. q = -60p + 910 (a) Use this model to express the monthly revenue R as a function of the unit price p. R(p) = Hence, determine the price you should charge for a maximum monthly revenue. (Round your answer to the nearest cent.) 24 (b) Author royalties and copyright fees cost the company an average of $5 per novel, and the monthly cost of operating and maintaining the online publishing service amounts to $800 per month. Express the monthly profit P as a function of the unit price p. P(p) = Hence, determine the unit price you should charge for a maximum monthly profit. (Round your answer to the nearest cent.) What is the resulting profit (or loss)? (Round your answer to the nearest cent.)

Some time ago, a consultant formulated the following linear model of demand for online novels, where q is the monthly demand for an online bookstore's online novels at a price of p dollars per novel. q = -60p + 910 (a) Use this model to express the monthly revenue R as a function of the unit price p. R(p) = Hence, determine the price you should charge for a maximum monthly revenue. (Round your answer to the nearest cent.) 24 (b) Author royalties and copyright fees cost the company an average of $5 per novel, and the monthly cost of operating and maintaining the online publishing service amounts to $800 per month. Express the monthly profit P as a function of the unit price p. P(p) = Hence, determine the unit price you should charge for a maximum monthly profit. (Round your answer to the nearest cent.) What is the resulting profit (or loss)? (Round your answer to the nearest cent.)

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter2: Functions

Section2.5: Linear Functions And Models

Problem 5E

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