Statistics Solutions

[See Steps] The quantity demanded each month of the Walter Serkin recording of Beethoven’s Moonlight Sonata, manufactured by Phonola records Industries

Question: The quantity demanded each month of the Walter Serkin recording of Beethoven’s Moonlight Sonata, manufactured by Phonola records Industries is related to the price of the compact disc:

\[p=-0.00042x+6\]

with \(\left( 0\le x\le 12,000 \right)\) represents the demand, and p denotes the price and x is the number of discs demanded. The total monthly cost for pressing and packaging x copies of this classical recording is given by

\[C\left( x \right)=600+2x-0.00002{{x}^{2}}\]

with \(0\le x\le 20000\). To maximize its profits, how many copies should Phonola produce each month?

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Solution: The downloadable solution consists of 1 pages
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