The monthly demand equation for a company's Econo-phone is 2 P = 475 3 where p...

 

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The monthly demand equation for a company's Econo-phone is 2 P = 475 3 where p is the price in dollars per Econo-phone and X is the total number of Econo- phones that the company can sell in a month. 1. Write the equation of the revenue function, R(x), in terms of X. 2. If the manufacturing cost is $55 per Econo-phone, write the equation of the cost function, C(x), in terms of X. 3. Write the equation of the profit function, P(x), in terms of X. Simplify completely. 4. How many Econo-phones should be manufactured and sold to realize the MAXIMUM monthly profit? Show all of your steps. 5. Using a sign chart, verify that the X-value found in part (4) yields a maximum profit. 6. What price should the company charge per Econo-phone to maximize the monthly profit? -X The monthly demand equation for a company's Econo-phone is 2 P = 475 3 where p is the price in dollars per Econo-phone and X is the total number of Econo- phones that the company can sell in a month. 1. Write the equation of the revenue function, R(x), in terms of X. 2. If the manufacturing cost is $55 per Econo-phone, write the equation of the cost function, C(x), in terms of X. 3. Write the equation of the profit function, P(x), in terms of X. Simplify completely. 4. How many Econo-phones should be manufactured and sold to realize the MAXIMUM monthly profit? Show all of your steps. 5. Using a sign chart, verify that the X-value found in part (4) yields a maximum profit. 6. What price should the company charge per Econo-phone to maximize the monthly profit? -X

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DR xx Pc 475237xx Cx 55x 3 Profit ... View the full answer