A business has found that it can sell 770 items if it sets its price to $66.61. However, if it lowers its price to $41.4, it can sell 940 items. (a) Find the linear demand equation (price function) for selling x items. (round to 4 decimal places) p(x)=px= It costs the business $8.78 per item to produce and they have $3,200 in overhead each month. (b) Find the linear Cost, and quadratic Revenue and Profit functions for producing/selling x items: (round to 4 decimal places) C(x)= R(x)= P(x)= (c) How many items should the company sell to break even? What price should they set to do so? (lower quantity) They could sell (blank) items at a price of $ each OR ( Blank) (higher quantity) They could sell ( Blank) items at a price of $ ( Blank) each
A business has found that it can sell 770 items if it sets its price to $66.61. However, if it lowers its price to $41.4, it can sell 940 items.
(a) Find the linear demand equation (price function) for selling x items. (round to 4 decimal places)
p(x)=px=
It costs the business $8.78 per item to produce and they have $3,200 in overhead each month.
(b) Find the linear Cost, and quadratic Revenue and Profit functions for producing/selling x items: (round to 4 decimal places)
C(x)=
R(x)=
P(x)=
(c) How many items should the company sell to break even? What price should they set to do so?
(lower quantity) They could sell (blank) items at a price of $ each OR ( Blank)
(higher quantity) They could sell ( Blank) items at a price of $ ( Blank) each
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
