Applied Mathematics for Business and Economics pdf free download

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Applied Mathematics for Business and Economics pdf free download. A manufacturer can produce radios at a cost of $ 2 apiece. The radios have been selling for $ 5 apiece, and at this price, consumers have been buying 4000 radios a month. The manufacturer is planning to raise the price of the radios and estimate that for each $1 increase in the price, 400 fewer radios will be sold each month. Express the manufacturer’s monthly profit as a function of the price at which the radios are sold.
Solution
Begin by stating the desired relationship in words.
Profit = (number of radios sold) (Profit per radio)
Let x denote the price at which the radios will be sold and the corresponding profit.
Number of radios sold = 4000 – 400 (number of $ 1 increases) the number of $ 1 increases in the price is the difference x-5 between the new and old selling prices. Hence,
Number of radios sold = 4000 – 400 (x – 5)
= 400
Profit per radio = x – 2 ()()()400152Pxxx=−−
4.2 Functions Involving Multiple Formulas
In the next example, you will need three formulas to define the desired function.

Applied Mathematics for Business and Economics pdf free download
Applied Mathematics for Business and Economics pdf free download


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