Website Profit You operate a gaming website, www.mudbeast.net, where users must pay a small fee to log on. When you charged $3 the demand was 1120 log-ons per month. When you lowered the price to $2.50, the demand increased to 1400 log-ons per month. (a) Construct linear demand function for your website and hence obtain the monthly revenue R as a function of the log-on fee x. R(x) = -560x²+2800x (b) Your Internet provider charges you a monthly fee of $50 to maintain your site. Express your monthly profit P as a function of the log-on fee x. P(x)=-1120x + 2800 Determine the log-on fee you should charge to obtain the largest possible monthly profit (in dollars). x = $ 2.5 X What is the largest possible monthly profit (in dollars)? $ 2190 X
Website Profit You operate a gaming website, www.mudbeast.net, where users must pay a small fee to log on. When you charged $3 the demand was 1120 log-ons per month. When you lowered the price to $2.50, the demand increased to 1400 log-ons per month. (a) Construct linear demand function for your website and hence obtain the monthly revenue R as a function of the log-on fee x. R(x) = -560x²+2800x (b) Your Internet provider charges you a monthly fee of $50 to maintain your site. Express your monthly profit P as a function of the log-on fee x. P(x)=-1120x + 2800 Determine the log-on fee you should charge to obtain the largest possible monthly profit (in dollars). x = $ 2.5 X What is the largest possible monthly profit (in dollars)? $ 2190 X
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
Chapter3: Straight Lines And Linear Functions
Section3.CR: Chapter Review Exercises
Problem 8CR: Working on a Commission A certain man works in sales and earns a base salary of 1000 per month plus...
Related questions
Question
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 with 2 images
Recommended textbooks for you
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage