SOLUTION: The price p and quantity x sold of a small flat screen television set obeys the demand equation below.
p= - .18x+288
a. How much should be charged for the television set if
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-> SOLUTION: The price p and quantity x sold of a small flat screen television set obeys the demand equation below.
p= - .18x+288
a. How much should be charged for the television set if
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Question 920520: The price p and quantity x sold of a small flat screen television set obeys the demand equation below.
p= - .18x+288
a. How much should be charged for the television set if there are 50 television sets in stock? Round to nearest cent
b. What quantity x will maximize revenue? What is the maximum revenue?
c. What price should be charged in order to maximize revenue?
You can put this solution on YOUR website! p= -.18x+288
a) p= -.18(50)+288 = $279
b)
R = px
R = .18x^2 + 288x
R = -.18(x-800)^2 + $115,200
|Note: and
x = 800 will maximize revenue at $115,200
c) p = -.18(800)+288 = $144
