A company produces a special new type of TV. The company has fixed costs of $474,000, and it costs $1300 to produce each TV. The company projects that if it charges a price of $2500 for the TV, it will be able to sell 800 TVs. If the company wants to sell 850 TVs, however, it must lower the price to $2200. Assume a linear demand. What price should the company charge to earn a profit of $966,000? It would need to charge $ (Round answer to nearest dollar. If more than one answer, separate with a comma.)
A company produces a special new type of TV. The company has fixed costs of $474,000, and it costs $1300 to produce each TV. The company projects that if it charges a price of $2500 for the TV, it will be able to sell 800 TVs. If the company wants to sell 850 TVs, however, it must lower the price to $2200. Assume a linear demand. What price should the company charge to earn a profit of $966,000? It would need to charge $ (Round answer to nearest dollar. If more than one answer, separate with a comma.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Help
Transcribed Image Text:A company produces a special new type of TV. The company has fixed costs of $474,000, and it costs $1300 to produce each TV. The company projects that if it charges
a price of $2500 for the TV, it will be able to sell 800 TVs. If the company wants to sell 850 TVs, however, it must
lower the price to $2200. Assume a linear demand.
What price should the company charge to earn a profit of $966,000?
It would need to charge $
(Round answer to nearest dollar. If more than one answer, separate with a comma.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
