(a)
To find: The unit price value.
(a)
Answer to Problem 38E
The unit price should be:
Explanation of Solution
Given information:
The given function as following below,
Formula used:
Calculation:
From the given,
The x-coordinate is at
Where:
Substitute to the equation to find the y-coordinate of the vertex:
The vertex is at (5, 10800)
Therefore, the unit price should be:
Conclusion:
The unit price should be:
(b)
To analyse: The revenue model that results in greater maximum monthly revenue.
(b)
Answer to Problem 38E
The original revenue results in greater maximum monthly revenue.
Explanation of Solution
Given information:
The given function as following below,
Formula used:
The x -coordinate is at
Calculation:
Using the given revenue function as a pattern, the different revenue function will be:
The x -coordinate is at
Where:
Substitute to the equation to find the y-coordinate of the vertex:
The vertex is at (7, 10580)
This means that the maximum revenue is $10580 which is less than the original revenue at $10800.
Therefore, the original revenue results in greater maximum monthly revenue.
Conclusion:
The original revenue results in greater maximum monthly revenue.
Chapter 8 Solutions
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