At a flea market held each weekend, an artist sells handmade earrings. The table below shows the average number of pairs of earrings sold for several prices. Given the pattern in the table, how much should the artist charge to maximize revenue?

Table:
price: $15 $14 $13 $12
pairs: 50 60 70 80

Choices:
F.$5 <--i think is right
G.$7.50
H.$10
I.$15

Well, charging only $5 might not be the best idea. People might think they are getting a steal, but the artist won't be making much profit. How about charging $7.50? That way, people feel like they are getting a good deal, and the artist can still make a decent profit. Remember, it's all about finding the right balance between affordability and profitability.

To determine the price that will maximize revenue, we need to calculate the revenue for each price and find the maximum value. Revenue is calculated by multiplying the price and the quantity sold.

Let's calculate the revenue for each price:

For $15, the quantity sold is 50, so the revenue is $15 * 50 = $750.
For $14, the quantity sold is 60, so the revenue is $14 * 60 = $840.
For $13, the quantity sold is 70, so the revenue is $13 * 70 = $910.
For $12, the quantity sold is 80, so the revenue is $12 * 80 = $960.

The maximum revenue is $960, which occurs when the price is $12. Therefore, the artist should charge $12 to maximize revenue, not $5 as you initially thought.

To determine how much the artist should charge to maximize revenue, we need to understand the relationship between the price and the number of pairs sold.

Looking at the table, we can observe that as the price decreases, the average number of pairs sold increases. This suggests an inverse relationship between price and quantity.

To find the optimal price for maximizing revenue, we need to calculate the revenue for each price and then identify the maximum value.

Revenue is calculated by multiplying the price by the number of pairs sold. We can create a new column in the table to represent the revenue:

price: $15 $14 $13 $12
pairs: 50 60 70 80
revenue: $750 $840 $910 $960 (price * pairs)

From the revenue values, we can see that the highest revenue is achieved at a price of $12, where the revenue is $960. Therefore, the artist should charge $12 to maximize their revenue.

So, the correct choice from the given options is not F.$5, but rather I.$15.