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4. An artist company prints and sells x copies of one of her most popular original paintings every week. The weekly price-demand and cost
4. An artist company prints and sells x copies of one of her most popular original paintings every week. The weekly price-demand and cost equations are, respectively, = 400 - 0.4x and C(x) = 2,000 + 160x a) Given the information above a) How many prints should she make each month to maximize her revenue? (3 marks) b) What is the maximum monthly revenue? (3 marks) c) How much should she charge for each print to achieve maximum revenue? (2 mark) b) Given the information above a) How many prints should she manufacture each month to maximize her profit? (6 marks) b) What is the maximum monthly profit? (4 marks) c) How much should the company charge for each print to achieve maximum profit? (2 mark)
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College Mathematics for Business Economics Life Sciences and Social Sciences
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
12th edition
321614003, 978-0321614001
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