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A manufacturer of mp3 players is preparing to set the price on a new model. Demand (D) is thought to depend on the price (P)
A manufacturer of mp3 players is preparing to set the price on a new model. Demand (D) is thought to depend on the price (P) and is represented by the model: D=2000- 3P The accounting department estimates that the total costs (C) can be represented by C=5000+4D Develop a model for the total profits and represent it on an Excel spreadsheet. Test various values (between $10 and $500) using a data table to estimate profit. Make a graph for profit showing $ on the y-axis and demand on the x-axis.
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