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1. A bakery can sell x = 12000 p+24 - 20 artisanal cakes at a price of p dollars per cake. The current price is $100. A. If the price is slightly lowered, will revenue increase or decrease? B. Find the price at which revenue is at a maximum.

1. A bakery can sell x = 12000 p+24 - 20 artisanal cakes at a price of p dollars per cake. The current price is $100. A. If the price is slightly lowered, will revenue increase or decrease? B. Find the price at which revenue is at a maximum.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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1. A bakery can sell x = 12000 p+24 - 20 artisanal cakes at a price of p dollars per cake. The current price is $100. A. If the price is slightly lowered, will revenue increase or decrease? B. Find the price at which revenue is at a maximum.
Transcribed Image Text:1. A bakery can sell x = 12000 p+24 - 20 artisanal cakes at a price of p dollars per cake. The current price is $100. A. If the price is slightly lowered, will revenue increase or decrease? B. Find the price at which revenue is at a maximum.
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