We found that the marketing research department for the company that manufactures and sells memory chips for microcomputers established the following price-demand and revenue functions: p(x) = 115 - 4x Price-demand function Revenue function R(x)=xp(x) = x(115-4x) where p(x) is the wholesale price in dollars at which x million chips can be sold, and R(x) is in millions of dollars. Both functions have domain 1 ≤x≤23. (B) Find the output that will produce the maximum revenue. 115 8 million chips (Type an integer or a fraction. Simplify your answer.) What is the maximum revenue? $ 826.56 million (Round to two decimal places.)
We found that the marketing research department for the company that manufactures and sells memory chips for microcomputers established the following price-demand and revenue functions: p(x) = 115 - 4x Price-demand function Revenue function R(x)=xp(x) = x(115-4x) where p(x) is the wholesale price in dollars at which x million chips can be sold, and R(x) is in millions of dollars. Both functions have domain 1 ≤x≤23. (B) Find the output that will produce the maximum revenue. 115 8 million chips (Type an integer or a fraction. Simplify your answer.) What is the maximum revenue? $ 826.56 million (Round to two decimal places.)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
Problem 6SC: A company that makes and sells baseball caps has found that the total monthly cost C in dollars of...
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No hand written responses. I need help with a step-by-step breakdown in laymen terms for each part of the problem, especially for the maximum revenue:
What is the maximum revenue?
$826.56 million (Round to two decimal places.)
.
Transcribed Image Text:We found that the marketing research department for the company that manufactures and sells memory chips for microcomputers established the following price-demand and
revenue functions:
p(x) = 115 - 4x
Price-demand function
Revenue function
R(x)=xp(x) = x(115-4x)
where p(x) is the wholesale price in dollars at which x million chips can be sold, and R(x) is in millions of dollars. Both functions have domain 1 ≤x≤23.
(B) Find the output that will produce the maximum revenue.
115
8
million chips (Type an integer or a fraction. Simplify your answer.)
What is the maximum revenue?
$ 826.56 million (Round to two decimal places.)
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