You are the liquor distributor, and you want to increase the revenue by discounting the bestselling liquor. If the demand function for this liquor is D(p) =60 -3p, where p is the price per bottle a) At what price should it be in order to maximize the revenue? (hint: Revenue = price * unit-sold) b) If the current price is $15, will the discount succeed?
You are the liquor distributor, and you want to increase the revenue by discounting the bestselling liquor. If the demand function for this liquor is D(p) =60 -3p, where p is the price per bottle a) At what price should it be in order to maximize the revenue? (hint: Revenue = price * unit-sold) b) If the current price is $15, will the discount succeed?
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter12: Algebra Of Matrices
Section12.CR: Review Problem Set
Problem 37CR
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You are the liquor distributor, and you want to increase the revenue by
discounting the bestselling liquor. If the demand function for this liquor is
D(p) =60 -3p, where p is the price per bottle
a) At what price should it be in order to maximize the revenue?
(hint: Revenue = price * unit-sold)
b) If the current price is $15, will the discount succeed?
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