CASE 3: The quantity demanded per month for your companys new HDTV set in the first two years of its introduction in the market is forecasted as -0.25p, where p is the selling price in dollars. You wish to find the price that will maximize your profit, if the variable cost per unit is $500, and the fixed cost is $1,000,000.

Answer questions 19-23 based on the above.

The revenue function is

0.25p² + 2500p

0.25p² 2500p

500p

0.25p² + 2500p + 500

The Profit function is

0.25p² + 2625p

0.25p² + 2375p 2,250,000

0.25p² + 2500p + 1,000,500

0.25p² + 2625p 2,250,000

0.25p² 2625p 2,250,000

The price that maximizes the profit is equal to

$4,750

$5,000

$5,250

$6,000

$6,500

The maximum possible profit per month is

$4,640,625

$3,384,375

$8,740,625

$9,140,625

The demand per month at the price that maximizes profit (rounded up to nearest integer) is

701

714

980

1188

________________________________________________________ I don't understand how to solve this kind of problem