Question
An appliance store has been selling 240 microwaves at $100/microwave every month. A market survey indicates...
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
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
A store is selling an item, and if they sell (x) of that item per month,...
A store is selling an item, and if they sell (x) of that item
per month, its profit (dollars) will be P(x)= -30x2 +
1500x -15750
A. Find any break even points.
B. How many items need to be produced and sold in order to maximize
profit?
C. Find the maximum profit.
A manufacture has been selling 1000 television sets a week at $510 each. A market survey...
A manufacture has been selling 1000 television sets a week at
$510 each. A market survey indicates that for each $23 rebate
offered to a buyer, the number of sets sold will increase by 230
per week.
c) If the weekly cost function is 85000+170x how should it set
the size of the rebate to maximize its profit?
1 point) The price-demand and cost functions for the production of microwaves are given as p=280−x40p=280−x40...
1 point) The price-demand and cost functions for the production
of microwaves are given as
p=280−x40p=280−x40
and
C(x)=20000+100x,C(x)=20000+100x,
where xx is the number of microwaves that can be sold at a price
of pp dollars per unit and C(x)C(x) is the total cost (in dollars)
of producing xx units.
(A) Find the marginal cost as a function of xx.
C′(x)C′(x) =
(B) Find the revenue function in terms of xx.
R(x)R(x) =
(C) Find the marginal revenue function in terms...
A furniture store sells two styles of a chair, reclining and non-reclining. During the month of...
A furniture store sells two styles of a chair, reclining and
non-reclining. During the month of March, the management expects to
sell exactly 525 chairs. The monthly profit is given by
P(x,y)=−(1/3)x^2−(5/2)y^2−(1/3)xy+35x+55y−900, where x is the
number of reclining chairs sold and y is the number of
non-reclining chairs sold. How many of each type should be sold to
maximize the profit in March?
A furniture store sells two styles of a chair, reclining and non-reclining. During the month of...
A furniture store sells two styles of a chair, reclining and
non-reclining. During the month of March, the management expects to
sell exactly 525 chairs. The monthly profit is given by
P(x,y)=−(1/3)x^2−(5/2)y^2−(1/3)xy+35x+55y−900, where x is the
number of reclining chairs sold and y is the number of
non-reclining chairs sold. How many of each type should be sold to
maximize the profit in March?
A store can sell 20 bicycles per week at a price of $400 each. The manager...
A store can sell 20 bicycles per week at a price of $400 each.
The manager estimates that for each $10 price reduction she can
sell two more bicycles per week. The bicycles cost $200 each. If x
stands for the number of $10 price reductions, find the price p and
the quatity q as function of x, find the revenue function, cost
function, profit function, and use these information to find how
many bicycles must be sold and at...
retired potter can produce pitchers at a cost of $5 each. He estimates his price function...
retired potter can produce pitchers at a cost of $5 each. He
estimates his price function to be
p = 19 − 0.5x,
where p is the price at which exactly x
pitchers will be sold per week. Find the number of pitchers that he
should produce and the price that he should charge in order to
maximize profit. Also find the maximum profit.
quantity
pitchers
price
$
profit
$
The chief economist for Argus Corporation, a large appliance manufacturer, estimated the firm’s short- run cost...
The chief economist for Argus Corporation, a large appliance
manufacturer, estimated the firm’s short- run cost function for
vacuum cleaners using an average variable cost function of the
form
AVC = a + bQ + cQ2
where AVC dollars per vacuum cleaner and Q number of vacuum
cleaners produced each month. Total fixed cost each month is
$180,000. The following results were obtained:
DEPENDENT VARIABLE: AVC
R-SQUARE F-RATIO
P-VALUE ON F
OBSERVATIONS: 19
0.7360
...
A movie theater has been charging $10.00 per person and selling about 500 tickets on a...
A movie theater has been charging $10.00 per person and selling
about 500 tickets on a typical weeknight. After surveying their
customers, the theater management estimates that for every 50 cents
that they lower the price, the number of moviegoers will increase
by 50 per night. Find the demand function. (Let x
represent the number of tickets sold and p represent the
price.)
p=15−0.01x
Calculate the consumer surplus when the tickets are priced at
$7.00.
A company selling widgets has found that the number of items sold, x, depends upon the...
A company selling widgets has found that the number of items
sold, x, depends upon the price, p at which
they're sold, according the equation x=30000/√5p+1
Due to inflation and increasing health benefit costs, the company
has been increasing the price by $2 per month. Find the rate at
which revenue is changing when the company is selling widgets at
$300 each.
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 3 minutes ago
asked 20 minutes ago
asked 39 minutes ago
asked 56 minutes ago
asked 59 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago