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March 27, 2017

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When priced at 300 pesos each, a toy has an annual sales of 4000 units. The manufacturer estimates that each 10 pesos increase per unit will decrease the sales by 100 units. Find the unit price that will maximize the total revenue.

  • algebra - ,

    sales=4000-100((p-300)/10 where p is the price.

    sales=4000-10p+3000

    revenue=sales*p= p(7000-10p) so revenue has zeroes at p=0 and p=700, so a max occurs at p=350

    check all my math, I did it in my head.

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