Question
In: Advanced Math
Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 132...
Based upon market research, the Hawthorne Company has determined
that consumers are willing to purchase 132 units of their portable
media player each week when the price is set at $132.00 per unit.
At a unit price of $40.50, consumers are willing to buy 315 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 $94.50 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
Solutions
Colby Messinger answered 2 years agoRelated Solutions
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