(c) Find the revenue function, R = N X P.(Express numbers in exact form. Use symbolic notation and fractions where needed.)R(P) =Find the price that maximizes revenue.(Use decimal notation. Give your answer to two decimal places.)The price that maximizes revenue is $ Suppose the demand for Colin's kidney pies is linear in the price P. Further, assume that he can sell 100 pies when the price is$5.00 and 65 pies when the price is $10.00.(a) Determine the demand N (number of pies sold) as a function of the price P (in dollars).(Express numbers in exact form. Use symbolic notation and fractions where needed.)N(P) =(b) What is the slope of the graph of N(P)?(Give an exact answer. Use symbolic notation and fractions where needed.)slope:pies/dollar

Let suppose Demand Function is denoted by N Let suppose price is denoted by P Equation of line…

Answered: Suppose the demand for Colin's kidney…

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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Similar questions

A car initially sold for $23,999. Its class life is 12 years, and the car depreciates by $750 each year. Express this as a linear function. Find the salvage value. Then, find the value after six years.
It's important to compare the total cost of cell phone plans including the cost of the phone. One company charges $64 for a phone and $45 per month for unlimited talk and text. Let C(t) represent the total cost of the phone and plan for t months. Give the formula for the function: Preview What is the total cost for the plan for 13 months. Give the function notation in the first box, the answer in the second box and choose the correct units in the third box. Select an answer
Suppose the profit P (in dollars) of a certain item is given by P = 1.25x − 650, where x is the number of items sold. Graph this profit relationship.
The value of a family car decreases $600 per year for the first 5 years; after that it depreciates $900 per year. Find the resale value function V(x), where x is the number of years the tamily has owned the car whose original price was $20,000.
Jeff delivers pizza for Papa Jim’s Pizza. Papa Jim’s pays Jeff $6.75 per hour. In addition to this hourly rate, Jeff earns $0.65 for every pizza he delivers. Write the function that describes Jeff’s wages, where x represents the number of pizzas he delivers during a 8-hour shift. If Jeff works a 8-hour shift and delivers 67 pizzas during his shift, how much money will he earn?
The graph represents the sales S (in millions of dollars) for Fossil from 2007 through 2013, where t represents the year, with t = 7 corresponding to 2007. Estimate the slopes of the graph for the years 2011 and 2012.
Each horse you own eats 4 bales of hay per month. Each bale of hay costs $15. a. Create a function called f whose input is the number of horses you own and whose output is the number of bales of hay eaten per month. Use x as your input variable. b. Create a function called g whose input is the number of bales of hay eaten per month and whose output is the total cost. Use x as your input variable. c. Create a function called / whose input is the number of horses you own and whose output is the total cost. Use x as your input variable. d. If you own 5 horses, use your functions f, g and h to find out how many bales of hay are eaten per month and how much money this will cost. e. Draw a diagram of the three functions f, g, and h. Show the input and output of each function, and their relationship.
Use function notation to represent that your annual salary after working five years at your job is $2,000 more than your initial salary.

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