6. A fast-food restaurant determines that each 10¢ inc « ase in the price of a hamburger results in 25 fewer hamburgers sold. The usual price for a hamburger is $5.00 and the restaurant sells 300 hamburgers each day. a) Write an equation to model the daily revenue for the restaurant. b) Find the optimal price for a hamburger. c) What is the optimal revenue?

6. A fast-food restaurant determines that each 10¢ inc « ase in the price of a hamburger results in 25 fewer hamburgers sold. The usual price for a hamburger is $5.00 and the restaurant sells 300 hamburgers each day. a) Write an equation to model the daily revenue for the restaurant. b) Find the optimal price for a hamburger. c) What is the optimal revenue?

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 4QR

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