The demand function for small high-definition televisions is given by p = 7,000-55x, where p is the price, in dollars, that x televisions can be sold. The cost function (in dollars) to produce televisions is C = 1,500x + 5,000. (Simplify your answers completely.) (a) Find the revenue function, R. R = (b) Find the profit function, P. P = (c) Find how many televisions should be sold to maximize profit. televisions (d) What is the maximum profit (in dollars)? $
The demand function for small high-definition televisions is given by p = 7,000-55x, where p is the price, in dollars, that x televisions can be sold. The cost function (in dollars) to produce televisions is C = 1,500x + 5,000. (Simplify your answers completely.) (a) Find the revenue function, R. R = (b) Find the profit function, P. P = (c) Find how many televisions should be sold to maximize profit. televisions (d) What is the maximum profit (in dollars)? $
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:R =
The demand function for small high-definition televisions is given by p= 7,000-55x, where p is the price, in dollars, that x televisions can be sold. The cost function (in dollars) to produce televisions
is C = 1,500x + 5,000. (Simplify your answers completely.)
(a) Find the revenue function, R.
(b) Find the profit function, P.
P =
(c) Find how many televisions should be sold to maximize profit.
televisions
ASK YOUR TEACHER
(d) What is the maximum profit (in dollars)?
PRACTICE ANOTHER
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