FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company produces a special new type of TV. The company has fixed costs of $465,000, and it costs $1000 to produce each TV. The

image text in transcribed
image text in transcribed
A company produces a special new type of TV. The company has fixed costs of $465,000, and it costs $1000 to produce each TV. The company projects that if it charges a price of $2300 for the TV. it will be able in sell 850 TVs. lf lhe company wanls to sell 900 We, however. it must lower the price to $2000. Assume a linear demand. What price should be set to earn maximum prots? ll is $I per TV. (Round answer to (we decimal places.)

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

Basic Environmental Data Analysis For Scientists And Engineers

Basic Environmental Data Analysis For Scientists And Engineers

Authors: Ralph RB Von Frese

1st Edition

1000725758, 9781000725759

More Books

Students also viewed these Mathematics questions

Question

★★★★★
Suppose you invested $98 in the Ishares High Yield Fund (HYG) a month ago. It paid a dividend of $0.47 today and then you sold it for $99. What was your dividend yield and capital gains yield on the...

Answered: 1 week ago

Question

★★★★★
42. LO.5 Phil and Susan are married, filing a joint return. The couple have two dependent children. Susan has wages of $34,000 in 2013. Phil does not work due to a disability, but he is a buyer and...

Answered: 1 week ago

Question

★★★★★
Show that the variance of the lifetime of a k-out-of-n system of components, each of whose lifetimes is exponential with mean , is given by 2 n i=k 1 i 2

Answered: 1 week ago

Question

★★★★★
The University of Danville is a private not-for-profit university that starts the current year with $700,000 in net assets: $400,000 unrestricted, $200,000 temporarily restricted, and $100,000...

Answered: 1 week ago

Question

★★★★★
During the most recent month, the following activity was recorded: a. 29,000 millilitres of material was purchased at a cost of $0.27 per millilitre. b. All of the material was used to produce 3,000...

Answered: 1 week ago

Question

★★★★★
You are the assistant project manager to Rassy Brown, who is in charge of the Nightingale project. Nightingale was the code name given to the development of a handheld electronic medical reference...

Answered: 1 week ago

Question

★★★★★
Moody Farms acaba de pagar un dividendo de 3 , 4 5 d lares sobre sus acciones. Se espera que la tasa de crecimiento de los dividendos sea constante del 5 por ciento anual de forma indefinida. Los...

Answered: 1 week ago

Question

★★★★★
Horace entered into the Achimota Mall branch of Shoprite with the intention of purchasing his favourite Royal energy drink. While in the shop, he spotted a bottle of the drink being displayed on one...

Answered: 1 week ago

Question

★★★★★
Determine the Appropriate Function and Write a QUERY: Choose a table, choose a column in the table that allows and has null values and replace (in your query) the null values with any value you...

Answered: 1 week ago

Question

★★★★★
Plot the six risks on a probability/impact matrix using the probability / impact matrix template. Also assign a numeric value for the probability and impact of each risk on meeting the main project...

Answered: 1 week ago

Question

★★★★★
3. (1 point) Given the free-body diagram shown below, what is the value of M at x=2 m? 10 kN 10 kN A. -20 kN-m B. -10 kNm I: C. 0 kNm 10 kN-m D. 10 kNm 5 kN 15 kN 3 m 5 m 1 m 1 m E. 20 kNm O A. A O...

Answered: 1 week ago

Question

★★★★★
is financing obtained from investment firms that specialize in financing small, high - growth companies includes all the money the owner of the business invests in his or her new enterprise is...

Answered: 1 week ago

Question

★★★★★
4. In which phase of the data science framework might data issues such as access, availability, reliability, and timeliness be a consideration? A) gain understanding of the problem B) obtain and...

Answered: 1 week ago

Question

★★★★★
Lets suppose that the demand for allergists increases in California. How does the invisible hand respond to this demand? There is more than one correct answer to this question: Try to come up with...

Answered: 1 week ago

Question

★★★★★
a. Where will profits be higher: when demand for a patented drug is highly inelastic or when demand for a patented drug is highly elastic? (Figure 13.4 may be helpful.) b. Which of those two drugs...

Answered: 1 week ago

Question

★★★★★
True or False? a. When a monopoly is maximizing its profits, price is greater than marginal cost. b. For a monopoly producing a certain amount of output, price is less than marginal revenue. c. When...

Answered: 1 week ago

Previous Question Next Question