View the step-by-step solution to:

A manufacture has been selling 1650 television sets a week at $450 each. A market survey indicates that for each $13 rebate offered to a buyer, the...

A manufacture has been selling 1650 television sets a week at $450 each. A market survey indicates that for each $13 rebate offered to a buyer, the number of sets sold will increase by 130 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 123750+150x , how should it set the size of the rebate to maximize its profit?
Sign up to view the entire interaction

Top Answer

A) We know that when x = 1650, p(x) = 450 We also know that when p(x) decreases by 13, x increases by 130. That tells us... View the full answer

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online