you run a small furniture business. you sign a deal with a customer to deliver up to 600 chairs, the exact number to be determined by the customer later. the price will be $130 per chair up to 500 chairs, and above 500, the price will be reduced by $0.25 per chair (on the whole order) for every additional chair over 500 ordered. what are the largest and smallest revenues your company can make under this deal?

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AmishaSrivastava AmishaSrivastava · Answer 1 · 2022-11-19T11:47:17+01:00

Minimum revenues occurs at x=0x=0 when no chairs are sold. The amount is $0.

And maximum revenues occurs as the function is concave downward. The amount is:

P(30) = (90 - 0.25.30) (300 + 30) = $27225

P(30)=(90−0.25⋅30)(300+30)=$27225

Revenue is the total amount of turnover generated from the sale of goods or services related to the company's main activities.
Earnings, also known as gross earnings, are often referred to as the "top line" because they are at the top of the income statement.
Income or Net Profit is the gross profit or profit of a business.
Revenue refers to the total income a company generates from its core business, such as selling products and services, renting properties, making regular payments, and interest on loans.
Earnings are calculated before any costs, such as discounts and returns, are deducted.
A company's revenue is the total amount received from its sales over a period of time.
Income is the amount left over after deducting company expenses from that income.
Subtracting revenue from revenue gives the company's cost of doing business over the measured period.

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