Question 3
12 pts
Worldwide annual sales of cellphones in 2012-2013 were
approximately q = −6p + 3030 million phones at a
selling price of $p per phone. With a manufacturing cost
of $80 per phone, what selling price would have resulted
in the largest annual profit?
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The selling price is $292.5.Explain profitProfit is the amount of gain realized from a transaction. The profit formula is useful for figuring out the profit from selling a specific product, typically in a business, or for figuring out the gain in any financial transaction. If the selling price is more than the cost price, a profit can be determined.Given, q = -6p+3030p = 505 - [tex]\frac{q}{6}[/tex]R(q) = 505q - [tex]\frac{q^{2} }{6}[/tex]C(q) = 80qNow, the profit function,P(q) = R(q) - C(q)       = (505q - [tex]\frac{q^{2} }{6}[/tex]) - 80qP(q) = 425q - [tex]\frac{q^{2} }{6}[/tex]P(q) = 425 - [tex]\frac{q}{3}[/tex]q = 1275 unitsNow, put it in demand function,p = 505 - [tex]\frac{q}{6}[/tex]   = 505 - 212.5   = 292.5Therefore, the selling price is $292.5.To know more about profit, visit:https://brainly.in/question/942502#SPJ1