Amanufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price and is represented ty the model D2.500-3P The accountng depaent estmat that the total costs can be reprosented by C5.000 + 40. Develop a model for the total profit. Implement the model on a spreaduheet and une nortinear ogtinicaton with Bover to fed the prioe hat maonis pro The price that maximizes profit is P-S (Round to the nearest cent as needed.)
Amanufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price and is represented ty the model D2.500-3P The accountng depaent estmat that the total costs can be reprosented by C5.000 + 40. Develop a model for the total profit. Implement the model on a spreaduheet and une nortinear ogtinicaton with Bover to fed the prioe hat maonis pro The price that maximizes profit is P-S (Round to the nearest cent as needed.)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![A manufacturer of kitchen applianoes is preparing to set the price on a new blender. Demand is thought to depend on the price and is reprosented ty the model D-2.500-JP The acountrg depanent mtinu
that the total costs can be reprosented by C=5,000 + 40. Develop a model for tho total profit. Implement the model on a spreaduhoet and use nortinear optimzaton with Sover to fed te proe tat mamies prott
The price that maximizos profit is P=S
(Round to the nearest cent as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe5a4a68c-2d76-4051-a38a-f426f05feab1%2Feaa1b506-2503-4e02-8784-51fb7b8bac8b%2Feibhdc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A manufacturer of kitchen applianoes is preparing to set the price on a new blender. Demand is thought to depend on the price and is reprosented ty the model D-2.500-JP The acountrg depanent mtinu
that the total costs can be reprosented by C=5,000 + 40. Develop a model for tho total profit. Implement the model on a spreaduhoet and use nortinear optimzaton with Sover to fed te proe tat mamies prott
The price that maximizos profit is P=S
(Round to the nearest cent as needed.)
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