A small cell phone company estimates that by charging xx dollars for each phone, they can sell 102−0.2x  phones per day.  The quadratic function R(x)=−0.2x2+102x  is used to find the revenue, R, received when the selling price of a phone is x dollars.  Find the selling price that will give the maximum revenue and then find the amount of the maximum revenue.    The selling price that will give maximum revenue is_______ The maximum revenue is_________

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter9: Quadratic Functions And Equations
Section9.6: Solving Quadratic Equations By Using The Quadratic Formula
Problem 55HP
icon
Related questions
Question

A small cell phone company estimates that by charging xx dollars for each phone, they can sell 102−0.2x  phones per day.  The quadratic function R(x)=−0.2x2+102x  is used to find the revenue, R, received when the selling price of a phone is x dollars.  Find the selling price that will give the maximum revenue and then find the amount of the maximum revenue.  

 The selling price that will give maximum revenue is_______

The maximum revenue is_________

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Knowledge Booster
Quadratic Equations
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning