A manufacture has been selling 1600 television sets a week at $540 each. A market survey indicates that for each $27 rebate offered to a buyer, the number of sets sold will increase by 270 per week. a) Find the function representing the demand p(x), where x is the number of the television sets sold per week and p(x) is the corresponding price. p(x)= b) How large rebate should the company offer to a buyer, in order to maximize its revenue? dollars c) If the weekly cost function is 144000+180x, how should it set the size of the rebate to maximize its profit? dollars
A manufacture has been selling 1600 television sets a week at $540 each. A market survey indicates that for each $27 rebate offered to a buyer, the number of sets sold will increase by 270 per week. a) Find the function representing the demand p(x), where x is the number of the television sets sold per week and p(x) is the corresponding price. p(x)= b) How large rebate should the company offer to a buyer, in order to maximize its revenue? dollars c) If the weekly cost function is 144000+180x, how should it set the size of the rebate to maximize its profit? dollars
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter8: Polynomials
Section8.1: Adding And Subtracting Polynomials
Problem 44PPS
Related questions
Question
A manufacture has been selling 1600 television sets a week at $540 each. A market survey indicates that for each $27 rebate offered to a buyer, the number of sets sold will increase by 270 per week.
a) Find the function representing the demand p(x), where x is the number of the television sets sold per week and p(x) is the corresponding price.
p(x)=
b) How large rebate should the company offer to a buyer, in order to maximize its revenue? dollars
c) If the weekly cost function is 144000+180x, how should it set the size of the rebate to maximize its profit? dollars
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning