Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A company produces a special new type of TV. The company has fixed costs of $469,000, and it costs $1500 to produce each TV. The
A company produces a special new type of TV. The company has fixed costs of $469,000, and it costs $1500 to produce each TV. The company projects that if it charges a price of $2200 for the TV, it will be able to sell 700 TVs. If the company wants to sell 750TVs, however, it must lower the price to $1900. Assume a linear demand. What price should the company charge to earn a profit of $481,000 ? It would need to charge $ (Round answer to nearest dollar. If more than one answer, separate with a comma.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started