A business has found that it can sell 690 items if it sets its price to...
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A business has found that it can sell 690 items if it sets its price to $67.61. However, if it lowers its price to $49.02, it can sell 990 items. (a) Find the linear demand equation (price function) for selling x items. (round to decimal places) p(x)=[ It costs the business $14.86 per item to produce and they have $3,650 in overhead each month. (b) Find the linear Cost, and quadratic Revenue and Profit functions for producing/selling x items:ound to decimal places) C(x) = Number R(x) = Number P(x) = Number + Number 22+ Number 22+ Number + Number + Number (c) How many items should the company sell to break even? What price should they set to do so? (lower quantity) They could sell Number (higher quantity) They could sell Number items at a price of $ Number items at a price of $ Number each OR each A business has found that it can sell 690 items if it sets its price to $67.61. However, if it lowers its price to $49.02, it can sell 990 items. (a) Find the linear demand equation (price function) for selling x items. (round to decimal places) p(x)=[ It costs the business $14.86 per item to produce and they have $3,650 in overhead each month. (b) Find the linear Cost, and quadratic Revenue and Profit functions for producing/selling x items:ound to decimal places) C(x) = Number R(x) = Number P(x) = Number + Number 22+ Number 22+ Number + Number + Number (c) How many items should the company sell to break even? What price should they set to do so? (lower quantity) They could sell Number (higher quantity) They could sell Number items at a price of $ Number items at a price of $ Number each OR each
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a To find the linear demand equation we can use the two given pricequantity pairs Lets assign the va... View the full answer
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
Posted Date:
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