Calculus for Business Project Information: Your companys marketing department has completed a study in a number of
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Calculus for Business Project Information: Your company’s marketing department has completed a study in a number of test markets for your product around the country. Your marketing data file contains the results of this study. Scenario: Your data indicates the approximate size of the potential national market for your product. To bring this product to the Vice President of the company, they have requested to supply the following things: • What is the price of the product that will maximize the profit?
• Will the market support 2,000,000 units to be sold?
• Will the market support a profit of at least $15,000,000?
• What is the range of units sold needed to be sold to reach $10,000,000?
• What is the volatility of the price you have set?
Expert Answer:
a Revenue function Rx 00002x3001x205x1000 Cost function Cx 00004x3002x206x2000 Profit function Px 00... View the full answer
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