By analyzing sales figures, the economist for a stereo
Chapter 4, Problem 39(choose chapter or problem)
By analyzing sales figures, the economist for a stereo manufacturer knows that 150 units of a compact disc player can be sold each month when the price is set at p $200 per unit. The figures also show that for each $10 hike in price, five fewer units are sold each month. (a) Let x denote the number of units sold per month and let p denote the price per unit. Find a linear function relating p and x. Hint: p/x 10/(5) 2 (b) The revenue R is given by R xp. What is the maximum revenue? At what level should the price be set to achieve this maximum revenue? x a
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