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A word problem 2015-05-08
A businessman bought a number of similar articles for a total of sh. 6000. Three of the articles turned out to be defective with no resale value. He sold the remaining articles at 12.5% each above the cost price making a total profit of sh 480. How many articles had he bought?
Answered by Penny Nom.
Maximizing the ticket revenue 2014-10-07
From Allen:
An airplane whose capacity is 100 passengers is to be chartered for a flight to Europe. The fare is to be $150 per person, if 60 people buy tickets. However, the airline agrees to reduce the fare for every passenger by $1 for each additional ticket sold. How many tickets should be sold to maximize the ticket revenue for this flight?
Answered by Chris Fisher.
Price, revenue and profit 2013-09-22
From lorraine:
What price maximizes revenue? What price maximizes profit?

The only data I'm given is total output, total revenue, and total cost. I'm not sure how to set up a formula

Answered by Penny Nom.
Percentage of Revenue Generated 2010-09-22
From Jeri:
Hi! I am trying to fill out the government form for obtaining a business license and this is all new to me...it wants to know the estimated percentage of revenue that my product generates. An easy formula to figure this out would be greatly appreciated!
Answered by Stephen La Rocque.
Frank makes picture frames 2010-02-20
From Carol:
Frank makes picture frames his revenue from sales is R=$13.60x for frames sold. The cost making frames is C=$5.80x+$120 for frames made. What is the minum number of frames Frank must make and sell in order for his revenue to be greater than his costs.
Answered by Penny Nom and Melanie Tyrer.
Revenue 2009-09-25
From Oneda:
Charter Bus Fares - For groups of 80 or more people, a charter bus company determines the rate per person according to the formula
rate = 8 - 0.05(n-80_, n >= 80
where the rate is given in dollars and n is the number of people question a) express the revenue R for the bus company as a function of n.

Answered by Penny Nom.
Selling fish 2009-07-22
From Hemantee:
A fishmonger bought 150kg of fish. he sold 70%of it at the price of Rs90 per kg and the rest at Rs 75 per kg. he made a profit of 42.5 per cent. how much did he pay for the fish.
Answered by Penny Nom.
Maximum profit 2009-05-11
From Sally:
a manufacturer of dresses charges $90 per dress up to 100 units and the average production cost is $60 per dress. to encourage larger orders the company will drop the price per dress by .10 for orders in excess of 100. I need to find the largest order the company should allow with the special discount to realize maximum profit.
Answered by Harley Weston.
A discount on a charter plane 2009-05-06
From karen:
a charter plane company advertises that it will provide a plane for a fare of $60. if your party is twenty or less and all passengers will receive a discount of $2 per person if the party is greater than 20. what number of passengers will maximize revenue for the company
Answered by Stephen La Rocque.
A T-shirt fundraiser 2009-01-11
From Andre:
Lou's class is selling T-shirts for a fundraiser. The supplier charges 750$ for the initial design and the set-up plus 5$ for each imprinted shirt. The students sell the shirts for 15$ each.
a)How many T-shirts do the students need to sell to break even?
b)How much profit will the students make if they sell 150 shirts?

Answered by Harley Weston.
Maximize revenue 2008-10-08
From Donna:
A university is trying to determine what price to charge for football tickets. At a price of 6.oo/ticket it averages 70000 people per game. For every 1.oo increase in price, it loses 10000 people from the average attendance. Each person on average spends 1.5o on concessions. What ticket price should be charged in order to maximize revenue. price = 6+x, x is the number of increases.
ticket sales = 70000- 10000x
concession revenue 1.5(70000 - 10000x)
I just do not know what to do with the concession part of this equation (6+x) x (70000 - 10000x) I can understand but not the concession part please help. thx.

Answered by Penny Nom.
30% profit 2008-06-19
From Julie:
how do i calculate the price per person that will return a 30% profit on the sales revenue generated?
Answered by Penny Nom.
A 10% markup then a 10% discount 2007-11-13
From svetik:
The best selling dessert at Chez Russell earns revenue of $5000 per week. During Restaurant Week, they are required to give a 10% discount on this dessert. Because the owner is a crook, he decides to mark up the price the week before Restaurant Week and then give the 10% discount off the marked up price. During the marked up week, they still sold the same amount of pieces as any prior week. However, they expect to sell 100 more pieces during restaurant week. If the revenue from this dessert is the same for the marked up week and restaurant week, what is the normal price of the dessert, rounded to the nearest cent?
Answered by Penny Nom.
Maximizing profits II 2007-10-05
From a student:
Suppose there are three firms with the same demand function. The function is Q=1000-40P. Each firm also a a cost function.
Firm 1: 4000+5Q, Firm 2: 3000+5Q, Firm 3: 3000+7Q.
What price should each firm charge if it wants to maximize profits.

Answered by Harley Weston.
Breaking even 2007-08-16
From virginia:
a company that manufactures bikes has a fixed cost of $100,000.00 it costs $100 to produce each bike. the selling price per bike is $300.00

write the cost function, c
write the revenue function, r
determine the break even point

Answered by Leeanne Boehm and Steve La Rocque.
Selling price and revenue 2007-06-24
From nick:
hello, this is my first time asking for help from this website in which by the way, i think is great for everyone. My question is as follows... the relationship between the selling price of a sleeping bag, s dollars, and the revenue at that selling price, r(s) dollars is represented by the function: r(s)= -10s^2+1500s
evaluate, interpret, and compare: a) r(29.95)

Answered by Stephen La Rocque and Penny Nom.
Find the maximum revenue 2007-04-05
From Megan:
The weekly revenue for a company is R= -3p+60p+1060, were p is the price of the company's product. Find the maximum revenue for this company.
Answered by Stephen La Rocque.
Maximize revenue 2007-03-08
From San:
A movie theatre sells tickets for $8.50 each. The manager is considering raising the prices but knows that for every 50 cents the price is raised, 20 fewer people go to the movies. The equation R= -40c^2+84c describes the relationship between the cost of the tickets, c dollars, and the amount of revenue, R dollars, that the theatre makes. What price should the theatre charge to maximize revenue? This question comes from my gr.11 corresponding study homework and I not yet solve it. Please help! Thank you, I will appreciate your help.
Answered by Stephen La Rocque.
Maximizing revenue 2005-05-13
From Jackie:
1.The manager of a 100-unit apartment complex knows from experience that all units will be occupied if the rent is $400 per month. A market survey suggests that, on the average, one additional unit will remain vacant for each $5 increase in rent. What rent should the manager charge to maximize revenue?

2.During the summer months Terry makes and sells necklaces on the beach. Last summer he sold the necklaces for $10 each and his sales averaged 20 per day. When he increased the price by $1, he found that he lost two sales per day.

a. Find the demand function, assuming it is linear.
b. If the material for each necklace costs Terry $6, what should the selling price be to maximize his profit?

Answered by Penny Nom.
Room and board fees 2003-11-29
From Jennifer:
A certain university wishes to determine room and board fees for the next academic year. For the current year, the fee is $3600 per student and 1800 students are living in the residence halls. Past data suggests that for every $300 increase in the semester fee, 200 fewer students will choose to live in the dorms. There are also costs to the university associated with the residence halls. The fixed costs total $2,000,000 per semester. the variable costs are currently $1000 per student but will fall $100 per student for each decrease of 100 students. Your task is to help the university determine the optimal fee. Assume linear relationships between the number of students and the fee and between the number of students and the cost per student
Answered by Penny Nom.
Maximize profit 2001-05-09
From Brian:
The marginal cost for a certain product is given by MC = 6x+60 and the fixed costs are $100. The marginal revenue is given by MR = 180-2x. Find the level of production that will maximize profit and find the profit or loss at that level.
Answered by Harley Weston.
Oil revenue 2001-04-21
From Brian:
Suppose that t months from now an oil well will be producing crude oil at the rate of r(t), not a constant, barrels per month and that the price of crude oil will be p(t), not a constant, dollars per barrel. Assume that the oil is sold as soon as it is extracted from the ground.
  1. Find an expression for the total revenue from the oil well, R(t).

  2. A certain oil well that currently yields 400 barrels of crude oil a month will run dry in 2 years. The price of crude oil is currently $18 per barrel and is expected to rise at a constant rate of 3 cents per barrel per month. What will be the total revenue from this well? {Hint: Model the degraded production rate with the equation:
    r(t) = (A-Bt)e0.04t}

Answered by Harley Weston.
Delivering firwood 2001-02-20
From Jackie:
Two college students earn extra money on weekends by delivering firwood in thier pickup truck. They have found that they can sell x cords per weekend at a price of p dollars per cord, where x=75-3/5 p. The students buy the firewood from a supplier who charges them C dollars for x cords to the equation C=500+15 x+1/5 x2.

a) find a function f such that P=f(p), where P dollars is the profit per weekend for the students if they charge p dollars per cord.

b)find the profit P dollars if p=$95

Answered by Penny Nom.
The city transit system 2001-01-07
From Jacky:
The city transit system carries an average of 9450 bus riders a day, for a fare of $1.75 each. The city wants to reduce car pollution by increasing ridership and to maximize the transit system's revenue at the same time. A survey indicates that the number of riders will increase by 150 for every $0.05 decrease in fare.
Answered by Harley Weston.



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