Concept explainers
a.
To Determine:
The function
The total monthly revenue is
Given:
Monthly sales are
For a nickel increase in the price of a can the monthly sales drop by
Concepts Used:
Determining a linear relationship using rate of change and one point.
Definition of revenue as price times quantity sold.
Conversion factors:
Calculations:
Determine the relation between number of cans sold
Note that the new price
Calculate the revenue function.
The total monthly revenue is the product of monthly sales number
Conclusion:
The total monthly revenue is
b.
To Graph:
The revenue function
Given:
Monthly sales are
For a nickel increase in the price of a can the monthly sales drop by
Known from previous part:
The total monthly revenue is
Concepts Used:
Graphing a function.
Calculations:
Plot the revenue function
Conclusion:
The revenue function
c.
To Calculate:
The price which will yield the maximum monthly revenue and the maximum revenue.
Given:
Monthly sales are
For a nickel increase in the price of a can the monthly sales drop by
Known from previous parts:
The total monthly revenue is
The per can price is given by
Maximum for
Concepts Used:
Substitution.
Calculations:
The maximum revenue
Conclusion:
Chapter 2 Solutions
PRECALCULUS:GRAPHICAL,...-NASTA ED.
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