Larry Zuckerkorn is the CEO of Zuckerkorn Glue company. The monthly demand function for supper glues...
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Larry Zuckerkorn is the CEO of Zuckerkorn Glue company. The monthly demand function for supper glues in January is assumed to be d(p) = 120,000-10,000p and the selling price is set at $8.50. a. Based on the above information, Larry's total revenue from selling glue is S. (Round your final answer to the nearest integer) Due to supply chain issues, the company can't produce more than 8,500 bottles of glue in February. Despite the issue, Larry is aiming to improve his monthly revenue performance by solving the following constrained optimization problem: max p (120,000-10,000p) subject to: 120,000-10,000p ≤ 8,500 b. Based on the above constrained price optimization problem, the optimal selling price for a bottle of glue in February is $. (Round your final answer to two decimal places.) c. The optimal total contribution from charging the new optimal price is $. (Round your final answer to the nearest integer.) Larry Zuckerkorn is the CEO of Zuckerkorn Glue company. The monthly demand function for supper glues in January is assumed to be d(p) = 120,000-10,000p and the selling price is set at $8.50. a. Based on the above information, Larry's total revenue from selling glue is S. (Round your final answer to the nearest integer) Due to supply chain issues, the company can't produce more than 8,500 bottles of glue in February. Despite the issue, Larry is aiming to improve his monthly revenue performance by solving the following constrained optimization problem: max p (120,000-10,000p) subject to: 120,000-10,000p ≤ 8,500 b. Based on the above constrained price optimization problem, the optimal selling price for a bottle of glue in February is $. (Round your final answer to two decimal places.) c. The optimal total contribution from charging the new optimal price is $. (Round your final answer to the nearest integer.)
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Posted Date:
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