SOLUTION: When respect brings success charges $600 for a seminar on management techniques, it attracts 1000 people. For each decrease of $20 in the charge, an additional 100 people will atte

Question 225788: When respect brings success charges $600 for a seminar on management techniques, it attracts 1000 people. For each decrease of $20 in the charge, an additional 100 people will attend the seminar. Let (x) represent the number of $20 decreases in the charge.
A) Determine a revenue function (R) that will revenue generated as a function of the number of $20 decreases
B) Find the value of (x) that maximizes the revenue. What should the company charge to maximize the revenue??
C) What is the maximum revenue the company can generate??
Found 2 solutions by 641680, MathTherapy:
Answer by 641680(1) (Show Source): You can put this solution on YOUR website!
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Answer by MathTherapy(10556) (Show Source): You can put this solution on YOUR website!
When respect brings success charges $600 for a seminar on management techniques, it attracts 1000 people. For each decrease of $20 in the charge, an additional 100 people will attend the seminar. Let (x) represent the number of $20 decreases in the charge.
A) Determine a revenue function (R) that will revenue generated as a function of the number of $20 decreases
B) Find the value of (x) that maximizes the revenue. What should the company charge to maximize the revenue??
C) What is the maximum revenue the company can generate??

A.

Revenue function: , with R being the MAXIMUM REVENUE resulting from "x" number of $20 price reductions

B.

Value of "x" number of $20 price reductions that will MAXIMIZE REVENUE: , resulting in a price of , reduced from $600 for each attendee.

C.

MAXIMUM REVENUE generated from ten (10) $20 price reductions, or from a reduced price of $400:

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