Question

Determine the number of widgets that you should try to sell in order to maximize revenue. What is the maximum revenue. Be sure to answer in complete sentences and to include units. Explain how you found the results.

Answer 1

Hello some important parts of your question is missing ( Table ) attached below is the table

Answer : Number of widgets = 50

Step-by-step explanation:

The number of widgets that you should sell to maximize revenue can be calculated as

= ( demand for widgets * price per widget ) - Total cost

from the table:

i) ( 10 * 141 ) - 609 = 1410 - 609 = $801

ii) ( 20 *133 ) - 1103 = 2660 - 1103 =$1557

iii) (30 *126) - 1618 = 3780 - 1618 = $2162

iv) (40*128) - 2109 = 5120 - 2109 =$3011

v) (50*113) - 2603 = 5650 -2603 = $3047

vi) (60*97) - 3111 = 5820 - 3111 = $2709

vii) (70*90) - 3619 = 6300 - 3619 =$2681

viii) ( 80*82) - 4103 = 6560 - 4103 = $2457

ix) (90*79) - 4601 = 7110 - 4601 = $2509

From the calculation above the number of widgets that should be sold in other to maximize revenue is : 50. this is because the revenue made is $3047 which is the highest when compared to other revenues generated