1) See picture to solve A manufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price and is represented by the following model.D = 2,200 – 3PThe accounting department estimates that the total cost can be represented by the following model.C = 5,600 + 5DDevelop a mathematical model for the total profit TP in terms of the price, P.A mathematical model for the total profit in terms of the price P is TP =(Simplify your answer. Do not factor.)

The revenue generated by the sales all of goods and services depicts the total revenue (TR). The…

Answered: e total profit im

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e total profit im

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

1) See picture to solve

A manufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price and is represented by the following model.
D = 2,200 – 3P
The accounting department estimates that the total cost can be represented by the following model.
C = 5,600 + 5D
Develop a mathematical model for the total profit TP in terms of the price, P.
A mathematical model for the total profit in terms of the price P is TP =
(Simplify your answer. Do not factor.)

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PLS HELP ASAP ON BOTH