Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please complete all 3 questions. really need you help. Given the given cost function C(2) = 8100 + 3200 + 1.8x2 and the demand function

Please complete all 3 questions. really need you help.
image text in transcribed
image text in transcribed
image text in transcribed
Given the given cost function C(2) = 8100 + 3200 + 1.8x2 and the demand function p(x) = 960. Find the production level that will maximize profit. A baseball team plays in a stadium that holds 50000 spectators. With the ticket price at $11 the average attendance has been 22000. When the price dropped to $9, the average attendance rose to 25000. Assume that attendance is linearly related to ticket price. What ticket price would maximize revenue? $ A manufacture has been selling 2000 television sets a week at $450 each. A market survey indicates that for each $21 rebate offered to a buyer, the number of sets sold will increase by 210 per week. a) Find the demand function p(x), where x is the number of the television sets sold per week. p(x) b) How large rebate should the company offer to a buyer, in order to maximize its revenue? $ c) If the weekly cost function is 150000 + 150x, how should it set the size of the rebate to maximize its profit? S

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

Internal Auditing And Risk Management The Mediating Effect Of Role Ambiguity On Factors Performance Relationship

Authors: Shabnam Fazli Aghghaleh, Zakiah Mohammadun Mohammed, Azlina Ahmad

1st Edition

3846587397, 978-3846587393

More Books

Students also viewed these Accounting questions

Question

Design a job advertisement.

Answered: 1 week ago