Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

We found the the marketing research department for the company that manufactures and sells memory chips for microcomputers established the following price - demand and

We found the the marketing research department for the company that manufactures and sells memory chips for microcomputers established the following price-demand and revenue functions Price demand function: p(x)=95-3x Revenue function: R(x)= xp(x)= x(95-3x )
1.Find the output that will produce the maximum revenue
2. What is the maximum revenue
3. What is the wholesale price per chip that produces max revenue

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

Operations Management For Competitive Advantage

Authors: Richard B. Chase, F. Robert Jacobs

11th Edition

72983906, 71115528, 9780071115520, 978-0072983913

More Books

Students also viewed these General Management questions