I posted this question once already and the answers I got were incorrect, they w
ID: 2857054 • Letter: I
Question
I posted this question once already and the answers I got were incorrect, they were:
A) q(p) = 5000 -100 p
B)R(p) = q *50 *p
C) C(q) = q * 80000 + 130000
6. -/6 points WaneFMAC6 9.1.036 My Notes Ask Your Teacher As Sales Manager for Montevideo Productions, Inc., you are planning to review the prices you charge clients for television advertisement development. You currently charge each client an hourly development fee of $2,700 with this pricing structure, the demand measured b. he number of contracts Montevideo signs per month, is 23 contracts. This is down 7 contracts from the figure last year, when your company charged only $2,000 (a) Construct a linear demand equation giving the number of contracts q as a function of the hourly fee p Montevideo charges for development. q(p) (b) On average, Montevideo bills for 50 hours of production time on each contract. Give a formula for the total revenue obtained by charging $p per hour R(p) = (c) The costs to Montevideo Productions are estimated as follows: Fixed costs $130,000 per month Variable costs: $80,000 per contract Express Montevideo Productions' monthly cost as a function of the number q of contracts. Express Montevideo Productions' monthly cost as a function of the hourly production charge p C(p) =Explanation / Answer
price per client $2,700 when there are 23 contracts (p1,q1)=(2700,23)
This is down 7 contracts from the figure last year, when your company charged only $2,000.
price per client $2,000 when there are 23+7 =30 contracts (p2,q2)=(2000,30)
demand equation is q-q1=[(q2-q1)/(p2-p1)](p-p1)
q-23=[(30-23)/(2000-2700)](p-2700)
q-23=(-1/100)(p-2700)
q-23=(-1/100)p +27
q=(-1/100)p +27+23
q=(-1/100)p +50
a)demand q(p)=(-1/100)p +50
b)revenue R=p*q =(-1/100)p2 +50p
..........................................................
c) cost c(q)= variable cost +fixed cost
cost c(q)=p =80000q+130000
d) q=(p-130000)/80000
cost c(p)=(1/80000)p -(13/8)
-------------