When Megastore sells jumbo packages of toilet paper for $20 each, their sales are 5600 packages per day. If they increase the price by $1, their sales decrease by 100 sales per day. Assuming that the demand for the jumbo packages depends linearly on the price, what price gives Megastore the maximum revenue? Round your answer to the nearest cent, if necessary.
When Megastore sells jumbo packages of toilet paper for $20 each, their sales are 5600 packages per day. If they increase the price by $1, their sales decrease by 100 sales per day. Assuming that the demand for the jumbo packages depends linearly on the price, what price gives Megastore the maximum revenue? Round your answer to the nearest cent, if necessary.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section1.3: Lines
Problem 92E
Related questions
Topic Video
Question
When Megastore sells jumbo packages of toilet paper for $20 each, their sales are 5600 packages per day. If they increase the price by $1, their sales decrease by 100 sales per day. Assuming that the demand for the jumbo packages depends linearly on the price, what price gives Megastore the maximum revenue? Round your answer to the nearest cent, if necessary.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 5 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.Recommended textbooks for you
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning