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Develop the nonlinear profit function as a function of price.

Develop the nonlinear profit function as a function of price.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Andy Mendoza makes handcrafted dolls, which he sells at craft fairs. He is considering mass producing the dolls to sell in stores. He estimates that the initial investment for plant and equipment will be 

$10,000, while labor, material, packaging, and shipping will be about $8 per doll. He has determined that monthly sales volume is related to price, according to the following equation: v=5000-90p.

Develop the nonlinear profit function as a function of price. 

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