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A manufacture has been selling 1150 television sets a week at 360 each. A market survey indicates that for each 24 rebate offered to a buyer, the...
A manufacture has been selling 1150 television sets a week at 360 each. A market survey indicates that for each 24 rebate offered to a buyer, the number of sets sold will increase by 240 per week. a) Find the demand function p(x), where x is the number of the television sets sold per week. b) How large rebate should the company offer to a buyer, in order to maximize its revenue? c) If the weekly cost function is , how should it set the size of the rebate to maximize its profit?