Question

Suppose that the manufacturer of a gas clothes dryer has found that when the unit price...

Suppose that the manufacturer of a gas clothes dryer has found that when the unit price is p​ dollars, the revenue R​ (in dollars) is R(p)=−2p2+6,000p.

​(a) At what prices p is revenue​ zero?

​(b) For what range of prices will revenue exceed ​$500,000​?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Consider the type of clothes dryer (gas or electric) purchased by each of five different customers...
Consider the type of clothes dryer (gas or electric) purchased by each of five different customers at a certain store. (a)If the probability that at most one of these purchases an electric dryer is 0.421, what is the probability that at least two purchase an electric dryer? (b)If P(all five purchase gas) = 0.119 and P(all five purchase electric) = 0.008, what is the probability that at least one of each type is purchased?
The John Deere Company has found that the revenue from sales of heavy-duty tractors is a...
The John Deere Company has found that the revenue from sales of heavy-duty tractors is a function of the unit price p that it charges. If the revenue R is R(p) = – 0.5p2 + 1900p , what unit price p should be charged to maximize revenue? What is the maximum revenue? What recommendations would you give the John Deere Company?
A manufacturer faces a linear price response function d(p)=8000 – 200p. The unit production cost is...
A manufacturer faces a linear price response function d(p)=8000 – 200p. The unit production cost is $10. The manufacturer can segment market into two parts by promising different lead times. (a) If the separating price is at $30, what are the optimal prices for the two segments? What is the total profit? (b) If the separating price is at $20, what are the optimal prices for the two segments? What is the total profit?
The demand for a particular commodity when sold at a price of p dollars is given...
The demand for a particular commodity when sold at a price of p dollars is given by the function D(p) = 4000e −0.02p . (a) Find the price elasticity of demand function and determine the values of p for which the demand is elastic, inelastic, and of unitary elasticity. (b) If the price is increased by 3% from $12, what is the approximate effect on demand? (c) Find the revenue R(p) obtained by selling q units at p dollars per...
Imagine an economy makes only clothes (QC) and food (QF) and has two inputs of production:...
Imagine an economy makes only clothes (QC) and food (QF) and has two inputs of production: Labor (L) and Capital (K). It takes 4 units of capital and 1 unit of labor to make one unit of clothing. It takes 1 unit of capital and 1 unit of labor to make one unit of food. There is no substitutability between the two inputs. Hint: the total cost of production, TC, is equal to the wL+rK. You can think of L...
Suppose a product's revenue function is given by R(q)=−7q^2+200q, where R(q) is in dollars and q...
Suppose a product's revenue function is given by R(q)=−7q^2+200q, where R(q) is in dollars and q is the number of units sold. Use the marginal revenue function to find the approximate revenue generated by selling the 39th unit. Marginal revenue= ? dollars per unit 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=40000√5p+1 Due to inflation and increasing health benefit costs, the company...
Suppose a company has fixed costs of $48,000 and variable cost per unit of 2/5x +...
Suppose a company has fixed costs of $48,000 and variable cost per unit of 2/5x + 444 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 2468 −3/5x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x =      (b) Find the maximum revenue. (Round your answer to the nearest cent.) $   (c) Form the profit function P(x) from the cost and...
Suppose a company has fixed costs of $700 and variable costs per unit of 7 8...
Suppose a company has fixed costs of $700 and variable costs per unit of 7 8 x + 1120 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1200 − 1 8 x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = 10, 70 (b) Find the maximum revenue. $ (c) Form the profit function P(x) from the cost and revenue...
Suppose a company has fixed costs of $53,200 and variable cost per unit of 2 5...
Suppose a company has fixed costs of $53,200 and variable cost per unit of 2 5 x + 444 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 2372 − 3 5 x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = (b) Find the maximum revenue. (Round your answer to the nearest cent.) $ (c) Form the profit function P(x)...
Suppose a company has fixed costs of $2400 and variable costs per unit of 15 16...
Suppose a company has fixed costs of $2400 and variable costs per unit of 15 16 x + 1700 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1800 − 1 16 x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) (b) Find the maximum revenue. (c) Form the profit function P(x) from the cost and revenue functions. Find the maximum profit....