A company produces a special new type of TV. The company has fixed costs of $453,000, and it costs $1000 to produce each TV. The company projects that if it charges a price of $2300 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 TVs, however, it must lower the price to $2000. Assume a linear demand. What price should be set to earn maximum profits? It is $ per TV. (Round answer to two decimal places.)

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.8: Linear Programming
Problem 5SC: If during the following year it is predicted that each comedy skit will generate 30 thousand and...
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A company produces a special new type of TV. The company has fixed costs of $453,000, and it costs $1000 to produce each TV. The company projects that if it
charges a price of $2300 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 TVs, however, it must lower the price to $2000. Assume a linear
demand.
What price should be set to earn maximum profits?
It is $ per TV.
(Round answer to two decimal places.)
th
Transcribed Image Text:A company produces a special new type of TV. The company has fixed costs of $453,000, and it costs $1000 to produce each TV. The company projects that if it charges a price of $2300 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 TVs, however, it must lower the price to $2000. Assume a linear demand. What price should be set to earn maximum profits? It is $ per TV. (Round answer to two decimal places.) th
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