A company has determined that the demand for its coffee makers can be shown by the demand equation p=-0.2x+158, where p is the price per coffee maker and x is the number of coffee makers sold a) Find the number of coffee makers the company needs to sell in order to maximize its revenue b) Find the Maximum Revenue c) Find the optimal price that will allow the firm to maximize profits
A company has determined that the demand for its coffee makers can be shown by the demand equation p=-0.2x+158, where p is the price per coffee maker and x is the number of coffee makers sold a) Find the number of coffee makers the company needs to sell in order to maximize its revenue b) Find the Maximum Revenue c) Find the optimal price that will allow the firm to maximize profits
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 12SQ
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A company has determined that the
a) Find the number of coffee makers the company needs to sell in order to maximize its revenue
b) Find the Maximum Revenue
c) Find the optimal price that will allow the firm to maximize profits
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