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A company produces a special new type of TV. The company has fixed costs of $497,000, and it costs $1000 to produce each TV. The company projects that if it charges a price of $2300 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 $2000. Assume a linear demand. What price should the company charge to earn a profit of $1,003,000? It would need to charge $

A company produces a special new type of TV. The company has fixed costs of $497,000, and it costs $1000 to produce each TV. The company projects that if it charges a price of $2300 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 $2000. Assume a linear demand. What price should the company charge to earn a profit of $1,003,000? It would need to charge $

Advanced Engineering Mathematics
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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A company produces a special new type of TV. The company has fixed costs of $497,000, and it costs $1000 to produce each TV. The company projects that if it charges a price of $2300 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 $2000. Assume a linear demand. What price should the company charge to earn a profit of $1,003,000? It would need to charge $ (Round answer to nearest dollar. If more than one answer, separate with a comma.)
Transcribed Image Text:A company produces a special new type of TV. The company has fixed costs of $497,000, and it costs $1000 to produce each TV. The company projects that if it charges a price of $2300 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 $2000. Assume a linear demand. What price should the company charge to earn a profit of $1,003,000? It would need to charge $ (Round answer to nearest dollar. If more than one answer, separate with a comma.)
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