Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company manufactures and sells x television sets per month. The monthly cost and price-demand equations are X C(x) = 72,000 + 50x and p(x)

image text in transcribed
image text in transcribed
A company manufactures and sells x television sets per month. The monthly cost and price-demand equations are X C(x) = 72,000 + 50x and p(x) = 200 - 30 O E x = 6000. (A) Find the maximum revenue. (B) Find the maximum profit, the production level that will realize the maximum profit, and the price the company should charge for each television set. (C) If the government decides to tax the company $5 for each set it produces, how many sets should the company manufacture each month to maximize its profit? What is the maximum profit? What should the company charge for each set? (A) The maximum revenue is " (Type an integer or a decimal.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Prealgebra & Algebra (subscription)

Authors: Elayn Martin Gay

5th Edition

0134708601, 9780134708607

More Books

Students also viewed these Mathematics questions

Question

A 300N F 30% d 2 m Answered: 1 week ago

Answered: 1 week ago

Question

What is effective causal reasoning?

Answered: 1 week ago

Question

7. How can an interpreter influence the utterer (sender)?

Answered: 1 week ago