A retailer has been selling 2000 tablet computers a week at $250 each. The marketing department estimates that an additional 80 tablets will sell each week for every $10 that the price is lowered (a) Find the demand function. P(x) = (b) What should the price be set at in order to maximize revenue? 24 (c) If the retailer's weekly cost function is C(x) = 35,000 + 120x what price should it choose in order to maximize its profit?

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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A retailer has been selling 2000 tablet computers a week at $250 each. The marketing department estimates that an additional 80 tablets will sell each week for every $10 that the price is lowered
(a) Find the demand function.
P(x) =
(b) What should the price be set at in order to maximize revenue?
%24
(c) If the retailer's weekly cost function is
C(x) = 35,000 + 120x
what price should it choose in order to maximize its profit?
24
Additional Materials
M eBook
Transcribed Image Text:A retailer has been selling 2000 tablet computers a week at $250 each. The marketing department estimates that an additional 80 tablets will sell each week for every $10 that the price is lowered (a) Find the demand function. P(x) = (b) What should the price be set at in order to maximize revenue? %24 (c) If the retailer's weekly cost function is C(x) = 35,000 + 120x what price should it choose in order to maximize its profit? 24 Additional Materials M eBook
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