An espresso stand finds that at a price of $4.00, demand is 440 cups. For every $0.25 increase in price, demand decreases by 25 cups. Find the price that maximizes revenue.

Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter7: Eigenvalues And Eigenvectors
Section7.4: Applications Of Eigenvalues And Eigenvectors
Problem 69E: Use your schools library, the Internet, or some other reference source to find the real-life...
icon
Related questions
Question
100%
An espresso stand finds that at a price of $4.00, demand is 440 cups. For every $0.25 increase in
price, demand decreases by 25 cups. Find the price that maximizes revenue.
O $ 4.75
O $ 4.20
O $ 4.00
$ 3.75
$ 3.50
O $ 4.50
Transcribed Image Text:An espresso stand finds that at a price of $4.00, demand is 440 cups. For every $0.25 increase in price, demand decreases by 25 cups. Find the price that maximizes revenue. O $ 4.75 O $ 4.20 O $ 4.00 $ 3.75 $ 3.50 O $ 4.50
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Elementary Linear Algebra (MindTap Course List)
Elementary Linear Algebra (MindTap Course List)
Algebra
ISBN:
9781305658004
Author:
Ron Larson
Publisher:
Cengage Learning
Elementary Geometry For College Students, 7e
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL