During the summer months Terry makes and sells necklaces on the beach. Last summer she sold the necklaces for $10 each, and her sales averaged 20 per day. When she increased the price by $1, she 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 $6, what selling price should Terry set to maximize her profit? per necklace

During the summer months Terry makes and sells necklaces on the beach. Last summer she sold the necklaces for $10 each, and her sales averaged 20 per day. When she increased the price by $1, she 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 $6, what selling price should Terry set to maximize her profit? per necklace

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter2: Functions

Section2.4: Average Rate Of Change Of A Function

Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.

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