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Calculus: Early Transcendentals | 9th Edition | ISBN: 9781337613927 | Authors: Daniel K. Clegg, Saleem Watson, James Stewart
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?A retailer has been selling 1200 tablet computers a week at $350 each. The marketing

Chapter 4, Problem 69

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QUESTION:

A retailer has been selling 1200 tablet computers a week at $350 each. The marketing department estimates that an additional 80 tablets will sell each week for every $10 that the price is lowered.

(a) Find the demand function.

(b) What should the price be set at in order to maximize revenue?

(c) If the retailer’s weekly cost function is

what price should it choose in order to maximize its profit?

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QUESTION:

A retailer has been selling 1200 tablet computers a week at $350 each. The marketing department estimates that an additional 80 tablets will sell each week for every $10 that the price is lowered.

(a) Find the demand function.

(b) What should the price be set at in order to maximize revenue?

(c) If the retailer’s weekly cost function is

what price should it choose in order to maximize its profit?

ANSWER:

Step 1 of 5

Let  be number of tablet computer sold.

The weekly increase in sales is .

For each increase of  units sold, the price is decreased by .

The decrease in price for each unit can be given as .

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