Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A manufacture has been selling 1000 television sets a week at $510 each. A market survey indicates that for each $22 rebate offered to a

image text in transcribed

image text in transcribed
A manufacture has been selling 1000 television sets a week at $510 each. A market survey indicates that for each $22 rebate offered to a buyer, the number of sets sold will increase by 220 per week. i. Find the demand function p(&':), where a: is the number of the television sets sold per week. POI?) = l l ii. How large rebate should the company offer to a buyer, in order to maximize its revenue? $ iii. If the weekly cost function is 85000 + 1703:, how should it set the size of the rebate to maximize its prot? $

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_2

Step: 3

blur-text-image_3

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

Entropy And Diversity The Axiomatic Approach

Authors: Tom Leinster

1st Edition

1108962173, 9781108962179

More Books

Students also viewed these Mathematics questions

Question

What is the effect of word war second?

Answered: 1 week ago