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Step-by-step explanation:
Let's establish our equation first:
- for every $5 decrease, there's an additional of 4 MP3 players sold.
- to get the monthly revenue, we need to multiple the cost of each player to the number of units sold
The equation above is for the basis month.
But the next month, we decreased the cost of mp3 player to sold 4 more units.
And the next month, we decreased the cost again to gain 4 more additional units sold.
If we substitute x with 2, we get 3840.
If we substitute x with 3, we get 3900.
If we substitute x with 4, we get 3920.
If we substitute x with 5, we get 3900.
At fifth time we decreased our price, we also got lesser revenue.
Therefore, our highest revenue would be $3,900.00 per month at our 4th price decrease with a price of $70.00.