Question:

A business has found that it can sell 670 items if it sets

Last updated: 8/3/2022

A business has found that it can sell 670 items if it sets

A business has found that it can sell 670 items if it sets its price to $66.91. However, if it lowers its price to $43.71, it can sell 950 items. (a) Find the linear demand equation (price function) for selling x items. (round to 4 decimal places) p(x)=? It costs the business $11.86 per item to produce and they have $2,150 in overhead each month. (b) Find the linear Cost, and quadratic Revenue and Profit functions for producing/selling x items: (round to 4 decimal places) C (x)___x+ _____ R(x)=____x²+ _____x+______ P(x)=____x²+______x+______ (c) Consider the maximum profit the company can make: To maximize their profit, they should sell _______items at a price of $_______each and they will make $_____ in profit.