Question

A company sells a product for $5 per unit. This year, they sold 1,000 units. Each year, they plan to decrease the price by 10% and predict an increase of 15% in the number of units sold. Use the drop-down menus to choose or create functions to model: A. The planned price of the product over time, p(t) B. The predicted units sold over time, s(t) C. The predicted revenue over time, r(t)

Answer 1

For example, assume that the students are going to lease vans from their university’s motor pool to drive to their conference. A university van will hold eight passengers, at a cost of $200 per van. If they send one to eight participants, the fixed cost for the van would be $200. If they send nine to sixteen students, the fixed cost would be $400 because they will need two vans. We would consider the relevant range to be between one and eight passengers, and the fixed cost in this range would be $200. If they exceed the initial relevant range, the fixed costs would increase to $400 for nine to sixteen passengers.