The demand for bricks depends on the price. A brick company can sell 500 000 bricks at $3.00 each. Forevery $0.10 the price is raised they sell 10 000 fewer bricks.In addition, the company's cost, C in dollars, of producing each brick is related to the number of bricks to be主sold, n, where C 251 000 000a Create an equation to represent the company's profit, P, in térms of z, the number of $0.10 priceincreases, (Note: Profit will equal revenue coNt.)6.find the selling price (to the nearest.cent) and number of bricks sold that wil lead to a profit of$740 000.< Find the maxlmum profit (to the nearest dola), as well as the selling price (to the nearest cent)and number of bricks sold that produce the maximumprefit

The demand curve graphically represents the inverse relationship between the quantity demanded of a…

The demand for bricks depends on the price. A brick company can sell 500 000 bricks at $3.00 each. For every $0.10 the price is raised, they sell 10 00 fewer bricks. In addition, the company's cost, C in dollars of producing each brick is related to the number of bricks to be sold, n, where C 25 1 000 000 a. Create an equation to represent the company's profit, P, in terms of z, the number of $0.10 price increases. (Note: Profit will equal revenue Cost.) b find the selling price (to the nearest.cent) and number of bricks sold that wil lead to a profit of $740 000. c Find the maximum profit (to the nearest dolar), as well as the selling price (to the nearest cent) and number of bricks sold that produce the maaximum profit

The demand for bricks depends on the price. A brick company can sell 500 000 bricks at $3.00 each. For every $0.10 the price is raised, they sell 10 00 fewer bricks. In addition, the company's cost, C in dollars of producing each brick is related to the number of bricks to be sold, n, where C 25 1 000 000 a. Create an equation to represent the company's profit, P, in terms of z, the number of $0.10 price increases. (Note: Profit will equal revenue Cost.) b find the selling price (to the nearest.cent) and number of bricks sold that wil lead to a profit of $740 000. c Find the maximum profit (to the nearest dolar), as well as the selling price (to the nearest cent) and number of bricks sold that produce the maaximum profit

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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