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melissa1456

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where d represents the demand and p represents the price of a suit. (Recall that Revenue=PriceDemand,

Profit=Revenue-Cost.)

(1) Find the selling price for a suit that will generate maximum revenue.

(2) How many suits are likely to be sold at that price in (1)?

(3) What is the maximum revenue?

Additional research shows that the cost of producing x suits is given by: C(x) = 350 + 0:75x.

(4) Find an expression which will determine the prot the company would make on selling x suits.(5) Determine the number of suits that the company must produce and sell in order to make maximum

prot.

(6) Determine that maximum profit.

(7) At what price should a suit be sold in order to maximize profit?