Based upon market research, th
Based upon market research, the Hawthorne Company has determinedthat consumers are willing to purchase 139 units of their portablemedia player each week when the price is set at $34.50 per unit. Ata unit price of $10.40, consumers are willing to buy 380 units perweek.
(a) Determine the weekly demand equation for this product,assuming price, p, and quantity, x, are linearlyrelated.p =
(b) Determine the weekly revenue function.R(x) =
(c) Determine the number of units consumers will demand weekly whenthe price is $30.30 per portable media player.units(d) Determine the number of units consumers will demand weekly whenthe revenue is maximized.units(e) Determine the price of each unit when the revenue ismaximized.dollars
Answer:
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