A music store sells an average of 160 CDs per week at each. The cost of producing x music CDs is C(x) = -0.003x² + 4.2x + 1000. A market survey indicates that for each 50g decrease in price, two additional CDs will be sold per week. a) Determine the demand, or price, function. b) What is the price of each CD when 170 are solu weekly and when 200 are sold weekly? c) Determine the revenue function d) Which of the following results in greater revenue: the sale of 170 CDs or the sale of 200 CDs? Justify your answer. e) Determine the profit function.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
icon
Related questions
Question
Just answer D and E
11. A music store sells an average of 160 CDs per week at $24
each. The cost of producing x music CDs is C(x) = -0.003x²
+ 4.2x + 1000. A market survey indicates that for each 50g
decrease in price, two additional CDs will be sold per week.
Determine the demand, or price, function.
What is the price of each CD when 170 are solu weekly and
when 200 are sold weekly?
Determine the revenue function
Which of the following results in greater revenue: the sale of
170 CDs or the sale of 200 CDs? Justify your answer.
e) Determine the profit function.
a)
b)
c)
d)
Transcribed Image Text:11. A music store sells an average of 160 CDs per week at $24 each. The cost of producing x music CDs is C(x) = -0.003x² + 4.2x + 1000. A market survey indicates that for each 50g decrease in price, two additional CDs will be sold per week. Determine the demand, or price, function. What is the price of each CD when 170 are solu weekly and when 200 are sold weekly? Determine the revenue function Which of the following results in greater revenue: the sale of 170 CDs or the sale of 200 CDs? Justify your answer. e) Determine the profit function. a) b) c) d)
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
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…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,