We found that the marketing research department for the company that manufactures and sells memory chips for microcomputers established the follówing price-demand and revenue functions: P(x) = 115 - 4x Price-demand function R(x) = xp(x) = x(115 - 4x) Revenue function where p(x) is the wholesale price in dollars at which x million chips can be sold, and R(x) is in millions of dollars. Both functions have domain 1sxs23. ... 0- -200 800 -400- 600- -600- 400- -800- 200- 0+ 0 5 10 15 20 -20 -15 -10 -5 0 (B) Find the output that will produce the maximum revenue. 115 million chips (Type an integer or a fraction. Simplify your answer.) 8 What is the maximum revenue? $ 826.56 million (Round to two decimal places.) (C) What is the wholesale price per chip that produces the maximum revenue? (Round to the nearest dollar.)
We found that the marketing research department for the company that manufactures and sells memory chips for microcomputers established the follówing price-demand and revenue functions: P(x) = 115 - 4x Price-demand function R(x) = xp(x) = x(115 - 4x) Revenue function where p(x) is the wholesale price in dollars at which x million chips can be sold, and R(x) is in millions of dollars. Both functions have domain 1sxs23. ... 0- -200 800 -400- 600- -600- 400- -800- 200- 0+ 0 5 10 15 20 -20 -15 -10 -5 0 (B) Find the output that will produce the maximum revenue. 115 million chips (Type an integer or a fraction. Simplify your answer.) 8 What is the maximum revenue? $ 826.56 million (Round to two decimal places.) (C) What is the wholesale price per chip that produces the maximum revenue? (Round to the nearest dollar.)
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter12: Algebra Of Matrices
Section12.CR: Review Problem Set
Problem 37CR
Related questions
Question
I am having trouble with the final question. Can you please explain and answer? Thank you :)
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 2 steps
Recommended textbooks for you
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell