Answer:
The price to make maximum revenue is 1 and the maximum revenue is 2000.
Step-by-step explanation:
Consider the provided information.
Revenue is the product of the number of sales and the sales price.
Here, is the price of a cookie and the number of cookies sold is .
The above equation is a quadratic equation and the graph of the above equation will be a downward parabola because the coefficient of is negative.
The vertex(axis of symmetry) of a downward parabola has the maximum point.
The axis of symmetry is for the quadratic equation .
By compare Revenue equation with , we get:
Now put the respective values in the formula .
So revenue will be maximum for .
Now put in
Hence, the price to make maximum revenue is 1 and the maximum revenue is 2000.