Website Profit You operate a gaming website, www.mudbeast.net, where users must pay a small fee to log on. When you charged $3 the demand was 1120 log-ons per month. When you lowered the price to $2.50, the demand increased to 1400 log-ons per month. (a) Construct linear demand function for your website and hence obtain the monthly revenue R as a function of the log-on fee x. R(x) = -560x²+2800x (b) Your Internet provider charges you a monthly fee of $50 to maintain your site. Express your monthly profit P as a function of the log-on fee x. P(x)=-1120x + 2800 Determine the log-on fee you should charge to obtain the largest possible monthly profit (in dollars). x = $ 2.5 X What is the largest possible monthly profit (in dollars)? $ 2190 X
Website Profit You operate a gaming website, www.mudbeast.net, where users must pay a small fee to log on. When you charged $3 the demand was 1120 log-ons per month. When you lowered the price to $2.50, the demand increased to 1400 log-ons per month. (a) Construct linear demand function for your website and hence obtain the monthly revenue R as a function of the log-on fee x. R(x) = -560x²+2800x (b) Your Internet provider charges you a monthly fee of $50 to maintain your site. Express your monthly profit P as a function of the log-on fee x. P(x)=-1120x + 2800 Determine the log-on fee you should charge to obtain the largest possible monthly profit (in dollars). x = $ 2.5 X What is the largest possible monthly profit (in dollars)? $ 2190 X
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:Website Profit You operate a gaming website, www.mudbeast.net, where users must pay a small fee to log on. When you charged $3 the demand was 1120 log-ons per month. When you lowered
the price to $2.50, the demand increased to 1400 log-ons per month.
(a) Construct a linear demand function for your website and hence obtain the monthly revenue R as a function of the log-on fee x.
-560x² + 2800x
R(x)
=
(b) Your Internet provider charges you a monthly fee of $50 to maintain your site. Express your monthly profit P as a function of the log-on fee x.
P(x)
-1120x + 2800
Determine the log-on fee you should charge to obtain the largest possible monthly profit (in dollars).
=
X = $2.5
What is the largest possible monthly profit (in dollars)?
$ 2190
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