An appliance store has been selling 240 microwaves at $100/microwave every month. A market survey indicates that for each $6 increase in the price, the number of microwaves sold will decrease by 30 per month. It costs the store $46 to purchase each microwave from the manufacturer.
a. Find the demand function, expressing p, the price / microwave as function of x, the number of microwaves sold each month. (hint: p = m * x + b).
x: number of microwaves sold each month |
p: price per microwave |
240 |
100 |
210 |
106 |
Find the revenue function, R(x).
Find the cost function, C(x).
Find profit function, T(x)
Using the second derivative test to find the price p, to maximize the PROFIT. Find the maximum profit
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