The business venture involves the sale of decorative jewelry cases. It costs the startup $280 to produce 40 decorative jewelry cases a week while it costs $320 to produce 60 decorative cases per week as well. you and your partners are told that the demand, x, for your product is given as a linear function of price, p, where p(x)=15−0.02x Use the information above, to answer the following questions:     1. Given that the break even points are 16 and 634, If the intention is to make at most 800 jewellery cases a week, what range of quantity demanded can the startup ensure a profit is made. 2. Determine the Maximum Profit that can be made by this new business venture.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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The business venture involves the sale of decorative jewelry cases. It costs the startup $280 to produce 40 decorative jewelry cases a week while it costs $320 to produce 60 decorative cases per week as well. you and your partners are told that the demand, x, for your product is given as a linear function of price, p, where p(x)=15−0.02x Use the information above, to answer the following questions:

 

 

1. Given that the break even points are 16 and 634, If the intention is to make at most 800 jewellery cases a week, what range of quantity demanded can the startup ensure a profit is made.

2. Determine the Maximum Profit that can be made by this new business venture. 

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