We found that the marketing research department for the company that manufactures and sells memory chips for microcomputers established the follo price-demand and revenue functions: p(x) = 75- 3x R(x) = xp(x) = x(75-3x) where p(x) is the wholesale price in dollars at which x million chips can be sold, and R(x) is in millions of dollars. Both functions have domain 1sxs 15. Price-demand function Revenue function ..... (A) Which of the following is the graph of the revenue function? O A. O B. OC. 0- 10150 400 -200- 200 -400- -20-15-10 -5 0 Ó 5 10 15 20
We found that the marketing research department for the company that manufactures and sells memory chips for microcomputers established the follo price-demand and revenue functions: p(x) = 75- 3x R(x) = xp(x) = x(75-3x) where p(x) is the wholesale price in dollars at which x million chips can be sold, and R(x) is in millions of dollars. Both functions have domain 1sxs 15. Price-demand function Revenue function ..... (A) Which of the following is the graph of the revenue function? O A. O B. OC. 0- 10150 400 -200- 200 -400- -20-15-10 -5 0 Ó 5 10 15 20
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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We found that the marketing.....please solve a, b, and c
Transcribed Image Text:We found that the marketing research department for the company that manufactures and sells memory chips for microcomputers established the followin-
price-demand and revenue functions:
p(x) = 75-3x
R(x)=xp(x) =x(75 – 3x)
where p(x) is the wholesale price in dollars at which x million chips can be sold, and R(x) is in millions of dollars. Both functions have domain 1sxs15.
Price-demand function
Revenue function
(A) Which of the following is the graph of the revenue function?
O A.
O B.
C.
S10-15-20
400-
-200
200
-400
-20 -15 -10 -5 0
05 10 15 20
(B) Find the output that will produce the maximum revenue.
million chips (Type an integer or a fraction. Simplify your answer.)
What is the maximum revenue?
million (Round to two decimal places.)
(C) What is the wholesale price per chip that produces the maximum revenue?
(Round to the nearest dollar.)
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