A manufacturer has been selling 1400 television sets a week at $390 each. A market survey indicates that for each $24 rebate offered to a buyer, the number of sets sold will increase by 240 per week. a) Find the demand function p(x), where x is the number of the television sets sold per week. p(x)=    b) How large rebate should the company offer to a buyer, in order to maximize its revenue? $   c) If the weekly cost function is 91000+130x, how should it set the size of the rebate to maximize its profit? $

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter1: Functions
Section1.4: Functions Given By Words
Problem 13E
icon
Related questions
Question

A manufacturer has been selling 1400 television sets a week at $390 each. A market survey indicates that for each $24 rebate offered to a buyer, the number of sets sold will increase by 240 per week.

a) Find the demand function p(x), where x is the number of the television sets sold per week.
p(x)=   

b) How large rebate should the company offer to a buyer, in order to maximize its revenue?
$  

c) If the weekly cost function is 91000+130x, how should it set the size of the rebate to maximize its profit?
$  

 

Please Show all work. Thank You!

Expert Solution
steps

Step by step

Solved in 4 steps with 23 images

Blurred answer
Recommended textbooks for you
Functions and Change: A Modeling Approach to Coll…
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
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