Concept explainers
a.
To find: the revenues when the prices per pet are $4, $6, and $8.
a.
Answer to Problem 72E
The revenue when the prices per pet are $4, $6, and $8 are
Explanation of Solution
Given: The total revenue R earned (in dollars) from a pet-sitting service is given by
Calculation:
First substitute
Now substitute
Now substitute
Conclusion The revenue when the prices per pet are $4, $6, and $8 are
b.
To find: the unit price that yields maximum revenue and the maximum revenue.
b.
Answer to Problem 72E
The unit price that yields the maximum revenue is
Explanation of Solution
Given:
The total revenue R earned (in dollars) from a pet-sitting service is given by
Concept Used:
For the function
When
When
Calculation:
Now compare the given function
Clearly
So by the above definition, f has a maximum at
So, the unit price that yields the maximum revenue is,
And the maximum revenue is:
Conclusion:
The unit price that yields the maximum revenue is
Chapter 2 Solutions
EBK PRECALCULUS W/LIMITS
- Calculus: Early TranscendentalsCalculusISBN:9781285741550Author:James StewartPublisher:Cengage LearningThomas' Calculus (14th Edition)CalculusISBN:9780134438986Author:Joel R. Hass, Christopher E. Heil, Maurice D. WeirPublisher:PEARSONCalculus: Early Transcendentals (3rd Edition)CalculusISBN:9780134763644Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric SchulzPublisher:PEARSON
- Calculus: Early TranscendentalsCalculusISBN:9781319050740Author:Jon Rogawski, Colin Adams, Robert FranzosaPublisher:W. H. FreemanCalculus: Early Transcendental FunctionsCalculusISBN:9781337552516Author:Ron Larson, Bruce H. EdwardsPublisher:Cengage Learning