Answered step by step
Verified Expert Solution
Question
1 Approved Answer
(a)A small company manufactures and sells bicycles. The sales manager has determined that their demand function for q (q0) bicycles per week is ... p
(a)A small company manufactures and sells bicycles.
The sales manager has determined that their demand function for q (q0) bicycles per week is ...
p = 882 - 15q
Find the price, p, the company should charge to realize maximum revenue.
(Round your answer to 2 decimal places, if necessary)
(b)
A similar company also produces and sells bicycles.
Their sales manager has determined that the demand function for q (q0) bicycles per week is ...
p = 849 - 25q
Find the maximum weekly revenue.
(Round your answer to 2 decimal places if necessary)
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