You set up a business making and selling books. The average hardcover book sells for $20 and the average paperback sells for $15. On average, a hardcover book costs $5 to make and a paperback costs $3 to make. If you can only spend $450 per day on books and you need to make at least 100 books per day, how many of each type should you make to maximize profit? a) 150 paperback, 0 hardcover b) 80 paperback, 60 hardcover 25 paperback, 75 hardcover c) O paperback, 100 hardcover d) Answer is not there

Principles of Economics 2e
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ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter10: Monopolistic Competition And Oligopoly
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You set up a business making and selling books. The
average hardcover book sells for $20 and the average
paperback sells for $15. On average, a hardcover book
costs $5 to make and a paperback costs $3 to make. If
you can only spend $450 per day on books and you need
to make at least 100 books per day, how many of each
type should you make to maximize profit?
a)
150 paperback, 0 hardcover
80 paperback, 60 hardcover
25 paperback, 75 hardcover
O paperback, 100 hardcover
Answer is not there
e)
Transcribed Image Text:You set up a business making and selling books. The average hardcover book sells for $20 and the average paperback sells for $15. On average, a hardcover book costs $5 to make and a paperback costs $3 to make. If you can only spend $450 per day on books and you need to make at least 100 books per day, how many of each type should you make to maximize profit? a) 150 paperback, 0 hardcover 80 paperback, 60 hardcover 25 paperback, 75 hardcover O paperback, 100 hardcover Answer is not there e)
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