Widget Sales Jesaki Inc. is trying to enter the widget market. The research department established the following price-demand, cost, and revenue functions: Price-demand function Cost function p(x) = 60 – 1.20x C(x) = 210 + 12x Revenue R(x) = xp(x) = x(60 – 1.20x)| function where a is in thousands of widgets and C(x) and R(x) are in thousands of dollars. The price p(x) is the price in dollars of one widget when the demand is æ thousand widgets. All three functions have domain 1< ¤ < 50. Use this information to answer questions 1-10 below.
Widget Sales Jesaki Inc. is trying to enter the widget market. The research department established the following price-demand, cost, and revenue functions: Price-demand function Cost function p(x) = 60 – 1.20x C(x) = 210 + 12x Revenue R(x) = xp(x) = x(60 – 1.20x)| function where a is in thousands of widgets and C(x) and R(x) are in thousands of dollars. The price p(x) is the price in dollars of one widget when the demand is æ thousand widgets. All three functions have domain 1< ¤ < 50. Use this information to answer questions 1-10 below.
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
Problem 6SC: A company that makes and sells baseball caps has found that the total monthly cost C in dollars of...
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1. The value x = 29.405 should be used in the cost model to estimate the cost of producing how many widgets? Round to the nearest widget.
2. How many widgets should Jesaki Inc. produce and sell in order to maximize revenue? Round to the nearest widget.
3. How many widgets should Jesaki Inc. produce and sell in order to maximize profit? Round to the nearest widget.
Transcribed Image Text:Widget Sales
Jesaki Inc. is trying to enter the widget market. The research department established
the following price-demand, cost, and revenue functions:
Price-demand
function
Cost function
p(x) = 60 – 1.20x
C(x) = 210 + 12x
Revenue
R(x) = xp(x) = x(60 – 1.20x)|
function
where a is in thousands of widgets and C(x) and R(x) are in thousands of dollars.
The price p(x) is the price in dollars of one widget when the demand is æ thousand
widgets. All three functions have domain 1< ¢ < 50.
Use this information to answer questions 1-10 below.
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