a. Explanation Given information: The number of pies that can be sold when price is P dollars is given by a linear function. When price is $ 5.00 per unit then 100 pies can be sold. When price is $ 10.00 per unit then 40 pies can be sold. Calculation: As per the given information, The number of pies that can be sold when price is P dollars is given by a linear function N ( P ) . Let us suppose N ( P ) = m P + c ....eq(i) where P is the price of one pie and N ( P ) is number of pies sold. Also, when price is $ 5.00 per unit then 100 pies can be sold. i .e . N ( 5 ) = 100 ⇒ 5 m + c = 100 ... eq(ii) When price is $ 10.00 per unit then 40 pies can be sold b. To determine The slope of linear function N ( P ) . c. To determine The price which maximizes the revenue.

4th Edition

ISBN: 9781319050733

Author: Rogawski

Publisher: MAC HIGHER

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Question

Chapter 1.2, Problem 28E

To determine

The linear function N(P) .

To determine

The slope of linear function N(P) .

To determine

The price which maximizes the revenue.

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Chapter 1.2, Problem 27E

Chapter 1.2, Problem 29E

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Chapter 1 Solutions

CALCULUS (CLOTH)

Ch. 1.1 - Prob. 1PQ Ch. 1.1 - Prob. 2PQ Ch. 1.1 - Prob. 3PQ Ch. 1.1 - Prob. 4PQ Ch. 1.1 - Prob. 5PQ Ch. 1.1 - Prob. 6PQ Ch. 1.1 - Prob. 7PQ Ch. 1.1 - Prob. 8PQ Ch. 1.1 - Prob. 9PQ Ch. 1.1 - Prob. 10PQ

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The linear function N ( P ) .

Solution Summary: The author calculates the number of pies sold when price is P dollars by a linear function N(P).

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The linear function N(P) .

The slope of linear function N(P) .

The price which maximizes the revenue.

Want to see the full answer?

Chapter 1 Solutions