Your underground used-book business is booming. Your policy is to sell all used versions of Calculus and You at the same price (regardless of condition). When you set the price at $10, sales amounted to 140 volumes during the first week of classes. The following semester, you set the price at $30 and sales dropped to zero. Assuming that the demand for books depends linearly on the price, what price gives you the maximum revenue?
Your underground used-book business is booming. Your policy is to sell all used versions of Calculus and You at the same price (regardless of condition). When you set the price at $10, sales amounted to 140 volumes during the first week of classes. The following semester, you set the price at $30 and sales dropped to zero. Assuming that the demand for books depends linearly on the price, what price gives you the maximum revenue?
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter9: Functions
Section9.CT: Test
Problem 16CT
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Your underground used-book business is booming. Your policy is to sell all used versions of Calculus and You at the same price (regardless of condition). When you set the price at $10, sales amounted to 140 volumes during the first week of classes. The following semester, you set the price at $30 and sales dropped to zero. Assuming that the demand for books depends linearly on the price, what price gives you the maximum revenue?
$ ________ per book
What does that revenue amount to?
$ __________
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