The market research department of a company recommended to management that the company manufacture and market a promising new product. After extensive surveys, the research team backed up the recommendation with the demand and the cost equation, respectively, x = 6000 - 30p, C = 72000+60x Where x is the number of units that likely to be sold at the price of p dollar per unit, C is the total cost of producing x units new product. a) Write the revenue R as a function of the price p (Revenue R is the amount of money received by the company for selling x units at the price of p dollars per unit) b) Write the cost C as a function of p c) Write the profit as a function of p (the profit is the revenue minus the cost)
The market research department of a company recommended to management that the company manufacture and market a promising new product. After extensive surveys, the research team backed up the recommendation with the demand and the cost equation, respectively, x = 6000 - 30p, C = 72000+60x Where x is the number of units that likely to be sold at the price of p dollar per unit, C is the total cost of producing x units new product. a) Write the revenue R as a function of the price p (Revenue R is the amount of money received by the company for selling x units at the price of p dollars per unit) b) Write the cost C as a function of p c) Write the profit as a function of p (the profit is the revenue minus the cost)
Chapter4: Systems Of Linear Equations
Section4.3: Solve Mixture Applications With Systems Of Equations
Problem 158E: The manufacturer of an energy drink spends $1.20 to make each drink and sells them for $2. The...
Related questions
Question
Transcribed Image Text:uestion
Market Research
The market research department of a company recommended to management that the company
manufacture and market a promising new product. After extensive surveys, the research team backed up the
recommendation with the demand and the cost equation, respectively,
x = 6000 - 30p,
C = 72000 + 60x
Where x is the number of units that likely to be sold at the price of p dollar per unit, C is the total cost of
producing x units new product.
a) Write the revenue R as a function of the price p (Revenue R is the amount of money received by the
company for selling x units at the price of p dollars per unit)
b) Write the cost C as a function of p
c) Write the profit as a function of p (the profit is the revenue minus the cost)
d) Find the price that will produce a maximum profit
Transcribed Image Text:e) Determine the prices for which the company will not lose money
1200 or bin boemab.od
f) For what prices p, the company will lose money?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
Recommended textbooks for you
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
