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You operate a gaming Web site where users pay a small fee to log on. When you charge $2 the demand was 280 log-ons per month. Whenyou lowered the price to $1.50, the demand increased to 593 log-ons per monthConstruct a linear demand function for your Web site and hence obtain the monthly revenue R as a function of the log-on fee p.Your internet provider charges you a monthly fee of 30 to maintain your site. There is no cost per log-on. Express your monthly profit P as afunction of the log-on fee p.Now determine the log-on fee you should charge to obtain the largest possible monthly profit:dollars.What is the largest possible monthly profit?dollars per month

Question
You operate a gaming Web site where users pay a small fee to log on. When you charge $2 the demand was 280 log-ons per month. When
you lowered the price to $1.50, the demand increased to 593 log-ons per month
Construct a linear demand function for your Web site and hence obtain the monthly revenue R as a function of the log-on fee p.
Your internet provider charges you a monthly fee of 30 to maintain your site. There is no cost per log-on. Express your monthly profit P as a
function of the log-on fee p.
Now determine the log-on fee you should charge to obtain the largest possible monthly profit:
dollars.
What is the largest possible monthly profit?
dollars per month
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You operate a gaming Web site where users pay a small fee to log on. When you charge $2 the demand was 280 log-ons per month. When you lowered the price to $1.50, the demand increased to 593 log-ons per month Construct a linear demand function for your Web site and hence obtain the monthly revenue R as a function of the log-on fee p. Your internet provider charges you a monthly fee of 30 to maintain your site. There is no cost per log-on. Express your monthly profit P as a function of the log-on fee p. Now determine the log-on fee you should charge to obtain the largest possible monthly profit: dollars. What is the largest possible monthly profit? dollars per month

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Step 1

So we are  given earlier we were charging $2 for every log on and there were 280 log-ons oer month 

But, now we are charging $1.5 for every log on and demand has increased to 593 logons per month 

 

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Step 2

So as per the present scenario we have to construct a linear demand function for monthly revenue R as a function of log-0n fee p

Let's assume that  log on fee be  $p per log on ,

so for 593 log-ons , monthy revence would be given as $593 times p

The equation for monthly revenue is shown below:

 

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Step 3

Next we have to find the  monthly profit P(p)  as a function of log on fee p when we are given that our internet provider co...

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Math

Calculus

Functions

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