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A manufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price and is represented by the following model D=2,400 - 4P The accounting department estimates that the total cost can be represented by the following model. C= 4,700 + 6D Develop a mathematical model for the total profit TP in terms of the price, P A mathematical model for the total profit in terms of the price P is TP = (Simplify your answer Do not factor.)

A manufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price and is represented by the following model D=2,400 - 4P The accounting department estimates that the total cost can be represented by the following model. C= 4,700 + 6D Develop a mathematical model for the total profit TP in terms of the price, P A mathematical model for the total profit in terms of the price P is TP = (Simplify your answer Do not factor.)

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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A manufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price and is represented by the following model D = 2,400 - 4P The accounting department estimates that the total cost can be represented by the following model. C= 4,700 + 6D Develop a mathematical model for the total profit TP in terms of the price, P. A mathematical model for the total profit in terms of the price P is TP = (Simplify your answer. Do not factor.)
Transcribed Image Text:A manufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price and is represented by the following model D = 2,400 - 4P The accounting department estimates that the total cost can be represented by the following model. C= 4,700 + 6D Develop a mathematical model for the total profit TP in terms of the price, P. A mathematical model for the total profit in terms of the price P is TP = (Simplify your answer. Do not factor.)
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