You operate a gaming website, www.mudbeast.net, where users must pay a small fee to log on. When you charged $4 the demand was 580 log-ons per month. When you lowered the price to $3.50, the demand increased to 870 log-ons per month. (a) Construct a linear demand function for your website and hence obtain the monthly revenue R as a function of the log-on fee x. R(x) = (b) Your Internet provider charges you a monthly fee of $20 to maintain your site. Express your monthly profit P as a function of the log-on fee x. P(x) = Determine the log-on fee you should charge to obtain the largest possible monthly profit (in dollars). x = $ What is the largest possible monthly profit (in dollars)?
You operate a gaming website, www.mudbeast.net, where users must pay a small fee to log on. When you charged $4 the demand was 580 log-ons per month. When you lowered the price to $3.50, the demand increased to 870 log-ons per month. (a) Construct a linear demand function for your website and hence obtain the monthly revenue R as a function of the log-on fee x. R(x) = (b) Your Internet provider charges you a monthly fee of $20 to maintain your site. Express your monthly profit P as a function of the log-on fee x. P(x) = Determine the log-on fee you should charge to obtain the largest possible monthly profit (in dollars). x = $ What is the largest possible monthly profit (in dollars)?
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter3: Polynomial And Rational Functions
Section3.1: Quadratic Functions And Models
Problem 66E
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Website Profit You operate a gaming website, www.mudbeast.net, where users must pay a small fee to log on. When you charged $4 the demand was 580 log-ons per month. When you lowered the price to $3.50, the demand increased to 870 log-ons per month.
(a)
Construct a linear demand function for your website and hence obtain the monthly revenue R as a function of the log-on fee x.
R(x) =
(b)
Your Internet provider charges you a monthly fee of $20 to maintain your site. Express your monthly profit P as a function of the log-on fee x.
P(x) =
Determine the log-on fee you should charge to obtain the largest possible monthly profit (in dollars).
x = $
What is the largest possible monthly profit (in dollars)?
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