During the summer months Terry makes and sells necklaces on the beach. Last summer he sold the necklaces for $10 each ar his sales averaged 20 per day. When he increased the price by $1, he found that the average decreased by two sales per day. (a) Find the demand function (price p as a function of units sold x), assuming that it is linear. p(x) = (b) If the material for each necklace costs Terry $6, what should the selling price be to maximize his profit? 2$ per necklace
During the summer months Terry makes and sells necklaces on the beach. Last summer he sold the necklaces for $10 each ar his sales averaged 20 per day. When he increased the price by $1, he found that the average decreased by two sales per day. (a) Find the demand function (price p as a function of units sold x), assuming that it is linear. p(x) = (b) If the material for each necklace costs Terry $6, what should the selling price be to maximize his profit? 2$ per necklace
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter3: Functions And Graphs
Section3.3: Lines
Problem 60E
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