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December 21, 2014

December 21, 2014

Posted by **Chloe** on Friday, October 8, 2010 at 8:47pm.

jeans unlimited sold 6000 pairs of jeans in october at an average of 44$ each. The company president decides that she must increase the company's profits by increasing the price of a pair of jeans. Market research indicates that sales will drop 200 pairs for every 1$ increase in price. If the cost of making a pair of jeans is 25$ and all jeans made are sold , what price will maximize the profit?

The answer is 49.50$ but im not sure how to get there. I know that i somehow have to find a quadratic equation and find the derivative of that to find the max which will essentially give me enough information to find the final answer. PLEASE HELP.

- Pre-Cal -
**bobpursley**, Friday, October 8, 2010 at 9:05pmProfit=NumberJeans*price-cost

but numberjeans=6000-200(Price-44)

profit=(6000-200(P-44))P-25

I assume you know how to find max.

dp/dPrice=0=(6000-200(P-44))+P(-200)(1)

solve for P

0=6000-200P+8800-200P

400P=14,800

P= 47 dollars. Check my work.

I recommend on your graphing calculator graph the profit function

Profit vs P

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