Math Problem Statement
company manufactures and sells x cellphones per week. The weekly price-demand and cost equations are given below. p equals 600 minus 0.1 x and Upper C left parenthesis x right parenthesis equals 15 comma 000 plus 135 x Question content area bottom Part 1 (A) What price should the company charge for the phones, and how many phones should be produced to maximize the weekly revenue? What is the maximum weekly revenue? The company should produce
3000 phones each week at a price of $
(Round to the nearest cent as needed.) Part 2 The maximum weekly revenue is $
- (Round to the nearest cent as needed.) Part 3 (B) What price should the company charge for the phones, and how many phones should be produced to maximize the weekly profit? What is the maximum weekly profit? The company should produce
2325 phones each week at a price of $
367.50. (Round to the nearest cent as needed.) Part 4 The maximum weekly profit is $
84562.50. (Round to the nearest cent as needed.)
Solution
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Math Problem Analysis
Mathematical Concepts
Optimization
Revenue Maximization
Profit Maximization
Formulas
Price-demand equation
Cost equation
Theorems
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Suitable Grade Level
College
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