I don’t understand this practice problem 1 Build Quadratic Models from Verbal DescriptionsIn economics, revenue R, in dollars, is defined as the amount of money receivedfrom the sale of an item and is equal to the unit selling price p, in dollars, of the itemtimes the number x of units actually sold. That is,R= xpIn economics, the Law of Demand states that p and x are related: As oneincreases, the other decreases. The equation that relates p and x is called the demandequation. When the demand equation is linear, the revenue model is a quadraticfunction.1Maximizing RevenueThe marketing department at Texas Instruments has found that when certaincalculators are sold at a price of p dollars per unit, the number x of calculators soldis given by the demand equationx = 21,000 – 150p(a) Find a model that expresses the revenue R as a function of the price p.(b) What is the domain of R?(c) What unit price should be used to maximize revenue?(d) If this price is charged, what is the maximum revenue?(e) How many units are sold at this price?MacBook ProDIIDDF5F6F7F8F9F10F1F12&*678.+ ||

first we find the revenue function and do the other thing latter.

Answered: The marketing department at Texas…

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section1.3: Lines

Problem 92E

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Sales Barnes & Noble had annual sales of $6.8 billion in 2013 and $6.1 billion in 2015. Use the Midpoint Formula to estimate the sales in 2014. Assume that the annual sales followed a linear pattern.
A soccer stadium holds 62,000 spectators. With aticket price of$11, the average attendance has been26,000. When the price dropped to $9, the averageattendance rose to 31,000. Assuming that attendanceis linearly related to ticket price, what ticket pricewould maximize revenue?
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An outpatient operating room charges each patient a fixed amount per surgery plus an amount per minute for use. One patient was charged 250 for a 30-minute surgery and another patient was charged 450 for a 90-minute surgery. Determine the linear function that would be used to compute the charges. Use the function to determine the charge when a patient has a 45-minute surgery.
The manufacturer of a water bottle spends $5 to build each bottle and sells them for $10. The manufacturer also has fixed costs each month of $6500. (a) Find the cost function C when x bottles are manufactured. (b) Find the revenue function R when x bottles are sold. (c) Show the break-even point by graphing both the Revenue and Cost functions on the same grid. (d) Find the break-even point. Interpret what the break-even point means.

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