A manufacture has been selling 1850 television sets a week at $390 each. A market survey indicates that for each $16 rebate offered to a buyer, the number of sets sold will increase by 160 per week. a) Find the demand function p(æ), where æ is the number of the television sets sold per week. p(æ)

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter3: Functions
Section3.3: More On Functions; Piecewise-defined Functions
Problem 88E
icon
Related questions
Topic Video
Question
A manufacture has been selling 1850 television sets a week at $390 each. A market survey indicates that for
each $16 rebate offered to a buyer, the number of sets sold will increase by 160 per week.
a) Find the demand function p(x), where æ is the number of the television sets sold per week.
p(æ) =
b) How large rebate should the company offer to a buyer, in order to maximize its revenue?
c) If the weekly cost function is 120250 + 130x, how should it set the size of the rebate to maximize its
profit?
Transcribed Image Text:A manufacture has been selling 1850 television sets a week at $390 each. A market survey indicates that for each $16 rebate offered to a buyer, the number of sets sold will increase by 160 per week. a) Find the demand function p(x), where æ is the number of the television sets sold per week. p(æ) = b) How large rebate should the company offer to a buyer, in order to maximize its revenue? c) If the weekly cost function is 120250 + 130x, how should it set the size of the rebate to maximize its profit?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Optimization
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.
Recommended textbooks for you
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage