(a) A general insurance can sell 30 car insurance policies for every month if they charged RM35...

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(a) A general insurance can sell 30 car insurance policies for every month if they charged RM35 per policy. Moreover, for each decrease or increase of RM2 in the price, the company can sells 1 more or less car insurance policy, respectively. Fixed cost are RM 150. Variable costs are RM20 per policy.

(i) What is the price function of the car insurance policy?

(ii) By using the price function in

(iii) construct the revenue function and cost function.

(iv) By using the answers from (ii) Find the profit function.

(b) What is the maximum monthly profit that the company can achieve from selling the car insurance policies.

Posted Date: Dec 14, 2021 03:27 PM

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(a) A general insurance can sell 30 car insurance policies for every month if they charged RM35...

Question:

x + 2y + z Зх — у — 32 2x +3y + z 3 -1 %3D %3D 4 x + 2y + z Зх — у — 32 2x +3y + z 3 -1 %3D %3D 4

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