Lambert High School is planning on building a new indoor batting practice building. The length of the building on the blueprint
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Answer:
In order to maximize profit, the company should sell each widget at $22.68.
Step-by-step explanation:
The amount of profit <em>y</em> made by the company for selling widgets at <em>x</em> price is given by the equation:
And we want to find to price for which the company should sell in order to maximize the profit.
Since our equation is a quadratic with a negative leading coefficient, its maximum will occur at the vertex point.
The vertex of a quadratic is given by the formulas:
In this case, <em>a</em> = -34, <em>b</em> = 1542, and <em>c </em>= -10037.
Find the <em>x-</em>coordinate of the vertex:
So, in order to maximize profit, the company should sell each widget at $22.68.
Extra Notes:
In order to find the maximum profit, substitute the price back into the equation: