Answered: The quantity demanded each month of the…

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section3.1: Use A Problem-solving Strategy

Problem 3.21TI: According to the National Automobile Dealers Association, the average cost of a car in 2014 was...

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The quantity demanded each month of the Walter Serkin recording of Beethoven's Moonlight Sonata, manufactured by Phonola Record Industries, is related to the price/compact disc. The equation

where p denotes the unit price in dollars and x is the number of discs demanded, relates the demand to the price. The total monthly cost (in dollars) for pressing and packaging x copies of this classical recording is given by

To maximize its profits, how many copies should Phonola produce each month? Hint: The revenue is R(x) = px, and the profit is P(x) = R(x) - C(x). (Round your answer to the nearest whole number.)
discs/month

The quantity demanded each month of the Walter Serkin recording of Beethoven's Moonlight Sonata, manufactured by Phonola Record Industries, is related to the price/compact disc. The equation
p = -0.00046x + 10
(0 <x< 12,000)
where p denotes the unit price in dollars and x is the number of discs demanded, relates the demand to the price. The total monthly cost (in dollars) for pressing and packaging x copies of this classical
recording is given by
C (x) = 600 + 2.x – 0.00004r2
(0 <x < 20,000)
-
To maximize its profits, how many copies should Phonola produce each month? Hint: The revenue is R(x)
= px, and the profit is P(x) = R(x) - C(x). (Round your answer to the nearest whole number.)
discs/month

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