Question: The demand equation of a pack of computer tutorial software produced by a certain company is 5 p=-3x+150, where p is the price per

The demand equation of a pack of computer tutorial software produced by

The demand equation of a pack of computer tutorial software produced by a certain company is 5 p=-3x+150, where p is the price per pack in dollars and x is the weekly number of units 2 sold. Assume that the fixed costs for the software are $1000, with variable costs of $5 per pack. a. Formulate the weekly cost, the weekly revenue and the weekly profit functions in terms of x. (8 marks) b. Write the restricted domain and the restricted range of the revenue function. (6 marks) c. Find the break-even production level(s). (8 marks) d. What price results in maximum weekly profit? (6 marks) e. What is the expected maximum weekly profit? (2 marks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!