In: Math
Based upon market research, the Hawthorne Company has determined
that consumers are willing to purchase 139 units of their portable
media player each week when the price is set at $34.50 per unit. At
a unit price of $10.40, consumers are willing to buy 380 units per
week.
(a) Determine the weekly demand equation for this product,
assuming price, p, and quantity, x, are linearly
related.
p =
(b) Determine the weekly revenue function.
R(x) =
(c) Determine the number of units consumers will demand weekly when
the price is $30.30 per portable media player.
units
(d) Determine the number of units consumers will demand weekly when
the revenue is maximized.
units
(e) Determine the price of each unit when the revenue is
maximized.
dollars
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