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The financial department of the company that produces digital cameras arrived at the following price-demand function and the corresponding revenue function: p(x) = 94.8 – 5x R(x) = xp(x) = x(94.8 - 5x) – Price-demand function Revenue function where p(x)is the wholesale price per camera at which x million cameras can be sold and R(x) is the corresponding revenue (in millions of dollars). Both functions have domain 1 ≤ x ≤ 15. (a) Find the value of x to the nearest thousand cameras that will generate the maximum revenue. What is the maximum revenue to the nearest thousand dollars? Solve the problem algebraically by completing the square (b) What is the wholesale price per camera (to the nearest dollar) that generates the maximum revenue?

The financial department of the company that produces digital cameras arrived at the following price-demand function and the corresponding revenue function: p(x) = 94.8 – 5x R(x) = xp(x) = x(94.8 - 5x) – Price-demand function Revenue function where p(x)is the wholesale price per camera at which x million cameras can be sold and R(x) is the corresponding revenue (in millions of dollars). Both functions have domain 1 ≤ x ≤ 15. (a) Find the value of x to the nearest thousand cameras that will generate the maximum revenue. What is the maximum revenue to the nearest thousand dollars? Solve the problem algebraically by completing the square (b) What is the wholesale price per camera (to the nearest dollar) that generates the maximum revenue?

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
Problem 6SC: A company that makes and sells baseball caps has found that the total monthly cost C in dollars of...
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The financial department of the company that produces digital cameras arrived at the following price-demand function and the corresponding revenue function: p(x) = 94.8 - 5x Price-demand function R(x) = xp(x) = x(94.8 - 5x) – Revenue function where p(x) is the wholesale price per camera at which x million cameras can be sold and R(x) is the corresponding revenue (in millions of dollars). Both functions have domain 1 ≤ x ≤ 15. (a) Find the value of x to the nearest thousand cameras that will generate the maximum revenue. What is the maximum revenue to the nearest thousand dollars? Solve the problem algebraically by completing the square (b) What is the wholesale price per camera (to the nearest dollar) that generates the maximum revenue?
Transcribed Image Text:The financial department of the company that produces digital cameras arrived at the following price-demand function and the corresponding revenue function: p(x) = 94.8 - 5x Price-demand function R(x) = xp(x) = x(94.8 - 5x) – Revenue function where p(x) is the wholesale price per camera at which x million cameras can be sold and R(x) is the corresponding revenue (in millions of dollars). Both functions have domain 1 ≤ x ≤ 15. (a) Find the value of x to the nearest thousand cameras that will generate the maximum revenue. What is the maximum revenue to the nearest thousand dollars? Solve the problem algebraically by completing the square (b) What is the wholesale price per camera (to the nearest dollar) that generates the maximum revenue?
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