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"The Pune Times" is a local daily newspaper.lt has a circulation of 100,000 subscribers and is thinking of raising it's subscription price. Currently the price is Rs 50 week, and it is estimated that the paper would lose 10,000 subscribers if the rate were to be raised by Rs 5/Week. (a) Find the subscription price that would maximise profit. (b) Do a sensitivity analysis of the solutions with respect to the estimated number of lost subscribers. (c) Should the paper change iť's subscription price? Explain your answer.

"The Pune Times" is a local daily newspaper.lt has a circulation of 100,000 subscribers and is thinking of raising it's subscription price. Currently the price is Rs 50 week, and it is estimated that the paper would lose 10,000 subscribers if the rate were to be raised by Rs 5/Week. (a) Find the subscription price that would maximise profit. (b) Do a sensitivity analysis of the solutions with respect to the estimated number of lost subscribers. (c) Should the paper change iť's subscription price? Explain your answer.

Advanced Engineering Mathematics
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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"The Pune Times" is a local daily newspaper.lt has a circulation of 100,000 subscribers and is thinking of raising it's subscription price. Currently the price is Rs 50 week, and it is estimated that the paper would lose 10,000 subscribers if the rate were to be raised by Rs 5/Week. (a) Find the subscription price that would maximise profit. (b) Do a sensitivity analysis of the solutions with respect to the estimated number of lost subscribers. (c) Should the paper change it's subscription price? Explain your answer.
Transcribed Image Text:"The Pune Times" is a local daily newspaper.lt has a circulation of 100,000 subscribers and is thinking of raising it's subscription price. Currently the price is Rs 50 week, and it is estimated that the paper would lose 10,000 subscribers if the rate were to be raised by Rs 5/Week. (a) Find the subscription price that would maximise profit. (b) Do a sensitivity analysis of the solutions with respect to the estimated number of lost subscribers. (c) Should the paper change it's subscription price? Explain your answer.
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