calc

posted by .

You have been hired as a marketing consultant to Johannesburg Burger Supply, Inc., and you wish to come up with a unit price for its hamburgers in order to maximize its weekly revenue. To make life as simple as possible, you assume that the demand equation for Johannesburg hamburgers has the linear form q = mp + b, where p is the price per hamburger, q is the demand in weekly sales, and m and b are certain constants you must determine.
(a) Your market studies reveal the following sales figures:
When the price is set at $2.00 per hamburger, the sales amount to 3090 per week, but when the price is set at $4.00 per hamburger, the sales drop to zero. Use these data to calculate the demand equation.
q = Incorrect: Your answer is incorrect.

  • calc -

    lk

  • calc -

    p=2.30 per burger

  • calc -

    35

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. calc

    The demand curve for the comics is given by the following equation, where q is the number of copies the publisher can sell per week if it sets the price at $p. q=(388-p)**2/50 text( ) \(0<=p<=388\) (a) Find the price elasticity …
  2. math ( algebra 2 )

    a newspaper company currently charges $11 a week to its subscribers, but is considering raising their price. the company found that the weekly revenue y can be modeled by the function y= -750(x-40)(x+20) where x is the number $.50 …
  3. math ( algebra 2 )

    a newspaper company currently charges $11 a week to its subscribers, but is considering raising their price. the company found that the weekly revenue y can be modeled by the function y= -750(x-40)(x+20) where x is the number $.50 …
  4. Calculus

    The price per unit is given by the equation p=18-2ln(x). What is the marginal revenue at x=400?
  5. calculus

    A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations are given below P=400-.5x and C(x)=20000+130x What price should the company charge for the phones and how many phones should be produced …
  6. help...urgent..calculus

    Sony Ent. is marketing a new smartphone. It determines that in order to sell x smartphones, the price per product must be p=280-0.4x. It also determine that the total cost of producing x smartphones is given by c(x)=5000+0.6x^2 . a. …
  7. calc

    I have everything right but the last question asking how many cases per week The consumer demand equation for tissues is given by q = (97 − p)2, where p is the price per case of tissues and q is the demand in weekly sales. (a) …
  8. marketing

    You have been hired as a marketing consultant to Johannesburg Burger Supply, Inc., and you wish to come up with a unit price for its hamburgers in order to maximize its weekly revenue. To make life as simple as possible, you assume …
  9. Calc

    A manufacture has been selling 1150 television sets a week at $510 each. A market survey indicates that for each $13 rebate offered to a buyer, the number of sets sold will increase by 130 per week. a) Find the function representing …
  10. Math

    A marketing expert determines that sales of television sets an be increased by 3 sets per week for each $20 decrease in price. Weekly sales average 18 sets at $440 each. What price should be given in order to receive $10,800 in revenue?

More Similar Questions