Question

Application: Economics. A vector ~p = h150, 225, 375i represents the price in dollars of certain models of bicycles sold by a bicycle shop at costs given by the vector ~c = h125, 200, 360i. (a) What is the vector ~r representing the revenue made from selling these bikes? (b) Suppose the shop owner offers a store-wide discount of 10% on the price of the bicycles. How much revenue does he make if he sells 10 o

Answer 1

Answer:

a. r=25,25, 15

b. Total revenue =225,225, 135

Explanation:

Application: Economics. A vector ~p = 150, 225, 375

represents the price in dollars of certain models of bicycles sold by a bicycle shop at costs given by the vector ~c = 125, 200, 360.

(a) What is the vector ~r representing the revenue made from selling these bikes? (b) Suppose the shop owner offers a store-wide discount of 10% on the price of the bicycles. How much revenue does he make if he sells 10 o

Lets's simplify the values step by step

A vector p = 150, 225, 375 is the price

vector c = 125, 200, 360.  represent the cost of the bicycle

therefore

vector r=the revenue from selling the bicycle will be

p-c:    

150, 225, 375-(125, 200, 360)

r=(25,25, 15)

b.

if there is a discount of 10% for 10 bicycles, i presume

then the total revenue will be

revenue /one bicycle*10% discount*10 bicycles

to get the

r=(100%(25,25, 15)-10%(25,25, 15))*10

if there is a 10% slash in the price, it means that the item will now be 90% of its price

r=225,225,135

Total revenue =225,225, 135