A kids' organization is currently selling their candy bars for $4 each, and sold 600 bars last year. Research has suggested that for each $0.25 price increase, they will sell 30 less candy bars. They want to know what price should they sell their candy bars at to maximize their revenue. Help them get started by setting up the revenue equation. You do not need to find the optimal price, just set up the revenue equation. Be sure to define your variables clearly.
A kids' organization is currently selling their candy bars for $4 each, and sold 600 bars last year. Research has suggested that for each $0.25 price increase, they will sell 30 less candy bars. They want to know what price should they sell their candy bars at to maximize their revenue. Help them get started by setting up the revenue equation. You do not need to find the optimal price, just set up the revenue equation. Be sure to define your variables clearly.
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.CR: Review Problem Set
Problem 50CR
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