An artist is planning to sell signed prints of her latest work if 50 prints are offered for sale, she can charge $600 each. However, if she makes more than 50 prints, she must lower the price of all the prints by $5 for each print in excess of the 50. That is, 51 prints reduce the price by $5, 52 prints reduce the price by $10, and so on. How many prints should the artist make to maximize her revenue? Let x be the number of prints and p the price per print. The demand equation is pand the revenue function is Ro

An artist is planning to sell signed prints of her latest work if 50 prints are offered for sale, she can charge $600 each. However, if she makes more than 50 prints, she must lower the price of all the prints by $5 for each print in excess of the 50. That is, 51 prints reduce the price by $5, 52 prints reduce the price by $10, and so on. How many prints should the artist make to maximize her revenue? Let x be the number of prints and p the price per print. The demand equation is pand the revenue function is Ro

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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