Question 204002
Tropical Pools sells an aboveground
model for p dollars each. The monthly revenue for this
model is given by the formula
R(p)=-0.08p^2 + 300p.
Revenue is the product of the price p and the demand
(quantity sold).
a) Factor out the price on the right-hand side of the
formula.
R(p) = p(-0.08p+300)
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b) Write a formula D(p) for the monthly demand.
D(p) = -0.08p+300
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c) Find D(3000)= -0.08*3000+300 = 60
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d) Use the accompanying graph to estimate the price at
which the revenue is maximized. Approximately how
many pools will be sold monthly at this price?
Max occurs when p = -b/2a = -300/(2*-0.08) = 1875
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e) What is the approximate maximum revenue?
R(1875) = -0.08(1875)^2+300*1875 = $281,250
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f) Use the accompanying graph to estimate the price at
which the revenue is zero.
Comment: No graph appeared in your post.
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Cheers,
Stan H.