4 = amount
<span>8 = base </span>
<span>amount / base = percent </span>
<span>4 / 8 = 0.50 </span>
<span>multiply 100 times the decimal and attact he % symbol </span>
<span>100 x 0.5 = 50 % </span>
<span>4 is 50% of 8 </span>
Since a $5 decrease in price increases customers by 20 we can say that we have two points:
(125,100) and (120,120), from these we can find the slope or rate of change of customers as a function of price...
m=20/-5
m=-4
m=-4
c(p)=-4p+b, now we can use (125,100) to solve for b
100=-4(125)+b
100=-500+b
600=b, so our number of customers as a function of price is:
c(p)=600-4p
Revenue will simply be the number of customers times the price charged per customer...or p*c(p):
r(p)=600p-4p^2
We can find price that creates maximum revenue by finding when the derivative is equal to zero...
dr/dp=600-8p
dr/dp=0 only when
0=600-8p
8p=600
p=75
So the price that maximizes revenue is $75.
Answer:
The graph is displayed below:
• The points are: (2, 11), (3, 6), (7, 6), and (8, 11)
• The vertex is (5, 2). ,This is because the graph opens up and the lowest point is always the vertex for this type of graphs.
Answer:
answer is [(-5)+6]+6]+(-3)=4
