AccountingQueen

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  • MBA.Graduate Psychology,PHD in HRM
    Strayer,Phoniex,
    Feb-1999 - Mar-2006

  • MBA.Graduate Psychology,PHD in HRM
    Strayer,Phoniex,University of California
    Feb-1999 - Mar-2006

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Category > Math Posted 20 Aug 2017 My Price 5.00

demand for tuna

Assume that the demand for tuna in a small coastal town is given by

P= 550,000/q^1.5 

where q is the number of pounds of tuna that can be sold in a month at p dollars per pound. Assume that the town's fishery wishes to sell at least 5,000 pounds of tuna per month.(a) How much should the town's fishery charge for tuna in order to maximize monthly revenue? (Round your answer to the nearest cent.)

p = $_______ per lb

 

(b) How much tuna will it sell per month at that price?

q =_______ lb

 

(c) What will be its resulting revenue? (Round your answer to the nearest dollar.)

$ ________ per month

Answers

AccountingQueen
(3)
Status NEW Posted 20 Aug 2017 01:08 PM My Price 5.00

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