Cameroon Corp. manufactures and sells electric staplers for $17.00 each. If 10,000 units were sold in December, and management f
1 answer:
You might be interested in
Answer:
The weekly revenue is maximum at x=1.67.
Explanation:
The given function is
.... (1)
where, f(x) is the total revenue at price x.
We need to find the price x at which the weekly revenue is maximum.
The leading coefficient of the given function is -300, which is a negative number. So, it is a downward parabola and vertex of a downward parabola is the the point of maxima.
If a parabola is defined as
... (2)
then the vertex of the function is
From (1) and (2) it is clear that
The given function is maximum at
Therefore the weekly revenue is maximum at x=1.67.
