Answer:
The maximum revenue Luci Lulu can make selling cookies in one day is $2,000.
The price Luci Lulu should sell the cookies to make the maximum revenue is $1.
Step-by-step explanation:
From the question, we have:
x = −2000p + 4000 ..................... (1)
Where;
x = number of cookies sold
p = price of a cookie, p, and the
Revenue function (R) can therefore be obtained as follows:
R = px ……………………….. (2)
If we substitute equation (1) into (2), we will have:
R = p(−2000p + 4000)
R = −2000p^2 + 4000p ……………… (3)
Differentiating equation (3) with respect to p and set it equal to zero, we have:
−4000p + 4000 = 0
Solving for p, we have:
4000 = 4000p
p = 4000 / 4000
p = 1
Therefore, this implies the price Luci Lulu should sell the cookies to make the maximum revenue is $1.
Substituting p = 1 into equation (3), we have:
R = (−2000 * 1^2) + (4000 * 1)
R = (−2000 * 1) + (4000 * 1)
R = −2000 + 4000
R = 2000
This implies that the maximum revenue Luci Lulu can make selling cookies in one day is $2,000.
