Question:A music store sells an average of 160 CDs per week at $24 each. The cost of producing x
music CDs is C(x) = -0.003×2 + 4.2x + 1000. A market survey indicates that for each 50¢ decrease in price, two additional CDs will be sold per week.
) Determine the demand, or price, function.
b) What is the price of each CD when 170 are sold weekly and
when 200 are sold weekly?
c) Determine the revenue function.
d) Which of the following results in greater revenue: the sale of 170 CDs or the sale of 200 CDs?
e) Determine the profit function.
f) Which of the following results in a greater profit: the sale of 170 CDs or the sale of 200 CDs?
g) Explain the results in part f.