TV. The company has fixed costs of $472,000, and it costs $1200 to produce each TV. The company projects that if it charges a price of $2200 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 TVs, however, it must lower the price to $1900. Assume a linear demand. What are the company's profits if marginal profit is $0? The profit will $enter your response here.
TV. The company has fixed costs of $472,000, and it costs $1200 to produce each TV. The company projects that if it charges a price of $2200 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 TVs, however, it must lower the price to $1900. Assume a linear demand. What are the company's profits if marginal profit is $0? The profit will $enter your response here.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
A company produces a special new type of TV. The company has fixed costs of
$472,000,
and it costs
$1200
to produce each TV. The company projects that if it charges a price of
$2200
for the TV, it will be able to sell
750
TVs. If the company wants to sell
800
TVs, however, it mustlower the price to
$1900.
Assume a linear demand.What are the company's profits if marginal profit is $0?
The profit will
$enter your response here.
(Round answer to nearest cent.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 5 steps
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,