A manufacturer of mp3 players is preparing to set the price on a new model. Demand...
A manufacturer of mp3 players is preparing to set the price on a new model. Demand is thought to depend on the price and is represented by the model
D= 2500 -3P
The accounting department estimates that the total costs can be represented by C=5000 + 5D
Develop a midel for the total profit in terms of the price P.
I do not know how to get the right answers in my caculcator using the formula.
Homework Answers
By the formula below...
![Solution.. price demand [D 2500-3P total cost [C 5000+5D] total revenue [Demand * price] total profit [total revenue - total](http://img.homeworklib.com/questions/cfab09b0-ef79-11eb-bb43-430456b48bcd.png?x-oss-process=image/resize,w_560)
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Completed versus Return Price data from the Data
worksheet. You may be used to seeing Price placed on the Y-axis
from other economics courses, but in this problem we are using
price as the independent variable.
Inserting Chart
Select the Scatter chart from the provided chart options in the
Charts group of the Insert tab of the Ribbon.
Selecting Data Series
Then choose Select Data in the Design tab on...
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