document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=629968>Question 629968</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I've been trying to do this problem for a while. \r<BR>\n" );
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document.write( "2. The Iron Range Steel Company determines that a monthly production<BR>\n" );
document.write( "level of 10,000 tons of steel allows for a sell price of $206/ton. Doubling production<BR>\n" );
document.write( "results in a price drop to $166/ton. Find the price y in terms of the<BR>\n" );
document.write( "number x of tons of steel produced and sold. Assume that the graph of y to<BR>\n" );
document.write( "x is linear. How much steel must Iron Range produce if the sell price is set at<BR>\n" );
document.write( "$190/ton?<BR>\n" );
document.write( "3. Find the revenue function R = xy for the Iron Range Steel Company in<BR>\n" );
document.write( "problem 3. Write R in the form: R = ax2 + bx + c.<BR>\n" );
document.write( "A. Find the vertex.<BR>\n" );
document.write( "B. What is the maximum revenue?<BR>\n" );
document.write( "C. How many tons of steel should be produced and sold in order to obtain<BR>\n" );
document.write( "maximum revenue?<BR>\n" );
document.write( "D. What price should be charged/ton to guarantee that the company earns<BR>\n" );
document.write( "maximum revenue?\r<BR>\n" );
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document.write( "I found the slope of the line to be -.004 by using 206-166 over -10000 making the linear equation y=-.004x+40 However when i get to trying to find how much steel in terms of 190 per ton im lost.\r<BR>\n" );
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document.write( "also i am not sure what to do with #3 in terms of writting it in <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=R-ax%5E2=bx%2Bc ALIGN=MIDDLE  ALT=\"R-ax%5E2=bx%2Bc\"   DISABLED_style= \"max-width:90%; height:auto;\" > </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #396621 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=396621\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 2. The Iron Range Steel Company determines that a monthly production<BR>\n" );
document.write( "level of 10,000 tons of steel allows for a sell price of $206/ton. Doubling production results in a price drop to $166/ton. Find the price y in terms of the<BR>\n" );
document.write( "number x of tons of steel produced and sold. Assume that the graph of y to<BR>\n" );
document.write( "x is linear. <BR>\n" );
document.write( "You have 2 points relating tons and price: (10,000,206) and (20,000,166)<BR>\n" );
document.write( "slope = (166-206)/(10,000)= -40/10,000 = -0.004<BR>\n" );
document.write( "Form: y = mx + b<BR>\n" );
document.write( "Solve for \"b\":<BR>\n" );
document.write( "206 = -0.004*10000 + b<BR>\n" );
document.write( "b = 206 + 40<BR>\n" );
document.write( "b = 246<BR>\n" );
document.write( "Equation:<BR>\n" );
document.write( "y = -0.004*x + 246\r<BR>\n" );
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document.write( "How much steel must Iron Range produce if the sell price is set at<BR>\n" );
document.write( "$190/ton?<BR>\n" );
document.write( "Solve: 190 = -0.004*x + 246<BR>\n" );
document.write( "x = 14000 tons<BR>\n" );
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document.write( "3. Find the revenue function R = xy for the Iron Range Steel Company in<BR>\n" );
document.write( "problem 3. Write R in the form: R = ax2 + bx + c.<BR>\n" );
document.write( "R = -0.004x^2 + 246x<BR>\n" );
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document.write( "A. Find the vertex.<BR>\n" );
document.write( "Vertex occurs at x = -b/(2a) = -246/(2*-0.004) = 30750<BR>\n" );
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document.write( "B. What is the maximum revenue?<BR>\n" );
document.write( "R(30750) = $3,700,000<BR>\n" );
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document.write( "C. How many tons of steel should be produced and sold in order to obtain<BR>\n" );
document.write( "maximum revenue? <BR>\n" );
document.write( "Ans: 30,750 tons<BR>\n" );
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document.write( "D. What price should be charged/ton to guarantee that the company earns<BR>\n" );
document.write( "maximum revenue? <BR>\n" );
document.write( "y = -0.004*30750 + 246<BR>\n" );
document.write( "y = $123 <BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "============ </SPAN>\n" );
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