The unit price of an item affects its supply and demand. That is, if the unit price goes up, the demand for the item will generally go down. A local newspaper currently has 42,000 subscribers with a quarterly charge of $40. Market research has suggested that if owners increased the price to $42, they would lose 1,000 subscribers. Assuming subscriptions are linearly related to price, apply the relative maximum and minimum values of a polynomial function to determine what price the newspaper should charge for a quarterly subscription to maximize revenue.
The unit price of an item affects its supply and demand. That is, if the unit price goes up, the demand for the item will generally go down. A local newspaper currently has 42,000 subscribers with a quarterly charge of $40. Market research has suggested that if owners increased the price to $42, they would lose 1,000 subscribers. Assuming subscriptions are linearly related to price, apply the relative maximum and minimum values of a polynomial function to determine what price the newspaper should charge for a quarterly subscription to maximize revenue.
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter5: A Survey Of Other Common Functions
Section5.6: Higher-degree Polynomials And Rational Functions
Problem 3E: Traffic Accidents The following table shows the cost C of traffic accidents. in cents per...
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3. The unit price of an item affects its supply and demand. That is, if the unit price goes up, the demand for the item will generally go down. A local newspaper currently has 42,000 subscribers with a quarterly charge of $40. Market research has suggested that if owners increased the price to $42, they would lose 1,000 subscribers. Assuming subscriptions are linearly related to price, apply the
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