The marketing research department of a computer company used a large city to test market the firms
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The marketing research department of a computer company used a large city to test market the firm’s new laptop. The department found that the relationship between price p (dollars per unit) and the demand x (units per week) was given approximately by
p = 1,296 - 0.12x2 0 < x < 80
So weekly revenue can be approximated by
R(x) = xp = 1,296x - 0.12x3 0 < x < 80
(A) Find the local extrema for the revenue function.
(B) On which intervals is the graph of the revenue function concave upward? Concave downward?
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Related Book For
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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