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. Concepts used: Slope intercept form of a line is given as, y = m x + b where m is the slope of line and b is y -intercept. 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 To determine (b) The slope of linear function N ( P ) . To determine (c) The price which maximizes the revenue.

ACHIEVE FOR CALCULUS 4 TERM >CSI CUSTOM<

21st Edition

ISBN: 9781319438333

Author: Rogawski

Publisher: MAC HIGHER

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Question

Chapter 1.2, Problem 28E

To determine

(a)

The linear function N(P).

To determine

(b)

The slope of linear function N(P).

To determine

(c)

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

ACHIEVE FOR CALCULUS 4 TERM >CSI CUSTOM<

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