A business has found that it can sell 790 items if it sets its price to $67.63. However, if it lowers its price to $47.1, it can sell 870 items. (a) Find the linear demand equation (price function) for selling x items. (round to 4 decimal places) It costs the business $13.2 per item to produce and they have $2,250 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) = Number + Number R(x) = Number x+Number + Number P(x) = Number 22+ Number x+ Number (c) How many items should the company sell to break even? What price should they set to do so? (lower quantity) They could sell Number items at a price of $ Number (higher quantity) They could sell Number items at a price of $ Number each OR each
A business has found that it can sell 790 items if it sets its price to $67.63. However, if it lowers its price to $47.1, it can sell 870 items. (a) Find the linear demand equation (price function) for selling x items. (round to 4 decimal places) It costs the business $13.2 per item to produce and they have $2,250 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) = Number + Number R(x) = Number x+Number + Number P(x) = Number 22+ Number x+ Number (c) How many items should the company sell to break even? What price should they set to do so? (lower quantity) They could sell Number items at a price of $ Number (higher quantity) They could sell Number items at a price of $ Number each OR each
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:A business has found that it can sell 790 items if it sets its price to $67.63. However, if it lowers its price to $47.1, it can sell 870 items.
(a) Find the linear demand equation (price function) for selling x items. (round to 4 decimal places)
p(x) =
BSP
It costs the business $13.2 per item to produce and they have $2,250 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) =
x+ Number
Number
Number
R(x) =
x² + Number
x+ Number
P(x) =
Number
x² + Number
x+ Number
(c) How many items should the company sell to break even? What price should they set to do so?
items at a price of $ Number
(lower quantity) They could sell Number
(higher quantity) They could sell Number
items at a price of $ Number
each OR
each
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