An artist is planning to sell signed prints of her latest work. If 40 prints a offered for sale, she can charge $550 each. However, if she makes mor than 40 prints, she must lower the price of all the prints by $5 for each print in excess of the 40. That is, 41 prints reduce the price by $5, 42 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 p = and the revenue function is R(x) = .
An artist is planning to sell signed prints of her latest work. If 40 prints a offered for sale, she can charge $550 each. However, if she makes mor than 40 prints, she must lower the price of all the prints by $5 for each print in excess of the 40. That is, 41 prints reduce the price by $5, 42 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 p = and the revenue function is R(x) = .
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![An artist is planning to sell signed prints of her latest work. If 40 prints are
offered for sale, she can charge $550 each. However, if she makes more
than 40 prints, she must lower the price of all the prints by $5 for each
print in excess of the 40. That is, 41 prints reduce the price by $5, 42
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 p= and the revenue function is R(x) = .](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F08381ff8-e2a0-448e-a2d3-e49a3be0d4b5%2F87082455-e182-4168-b7af-5cfbd3b1adf2%2Fjcztu8p_processed.png&w=3840&q=75)
Transcribed Image Text:An artist is planning to sell signed prints of her latest work. If 40 prints are
offered for sale, she can charge $550 each. However, if she makes more
than 40 prints, she must lower the price of all the prints by $5 for each
print in excess of the 40. That is, 41 prints reduce the price by $5, 42
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 p= and the revenue function is R(x) = .
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