A business has found that it can sell 800 items if it sets its price to...
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A business has found that it can sell 800 items if it sets its price to $62.89. However, if it lowers its price to $43.82, it can sell 880 items. (a) Find the linear demand equation (price function) for selling x items. (round to decimal places) p(x) = [ It costs the business $12.03 per item to produce and they have $2,250 in overhead each month. (b) Find the linear Cost, and quadratic Revenue and Profit functions for producing/selling x items: pound to 4 decimal places) C(x) Number R(x)= P(x) = Number = Number + Number 2+ Number 2 2+ Number + Number + Number (c) Consider the maximum profit the company can make: To maximize their profit, they should sell Number and they will make $ Number in profit. items at a price of $ Number each A business has found that it can sell 800 items if it sets its price to $62.89. However, if it lowers its price to $43.82, it can sell 880 items. (a) Find the linear demand equation (price function) for selling x items. (round to decimal places) p(x) = [ It costs the business $12.03 per item to produce and they have $2,250 in overhead each month. (b) Find the linear Cost, and quadratic Revenue and Profit functions for producing/selling x items: pound to 4 decimal places) C(x) Number R(x)= P(x) = Number = Number + Number 2+ Number 2 2+ Number + Number + Number (c) Consider the maximum profit the company can make: To maximize their profit, they should sell Number and they will make $ Number in profit. items at a price of $ Number each
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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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