4) Maximizing profit You are the owner of Tahoe Sporting Wear and need to determine the best price to sell your most popular winter jacket. It costs you wholesale $20 to buy each jacket, and fixed costs of $50 shipping per year. You research shows that the price function is p(x) = 300 – 10x, where p is the price at which exactly x jackets will be sold. a) For what price should jackets be sold to maximize the profit? b) How many jackets will be sold per year? c) What's your maximum profit?

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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II. Optimization
4) Maximizing profit You are the owner of Tahoe Sporting Wear and need to determine the best
price to sell your most popular winter jacket. It costs you wholesale $20 to buy each jacket,
and fixed costs of $50 shipping per year. You research shows that the price function is
p(x)= 300 – 10x, where p is the price at which exactly x jackets will be sold.
a) For what price should jackets be sold to maximize the profit?
b) How many jackets will be sold per year?
c) What's your maximum profit?
(Remember: Profit = Revenue – Cost )
Transcribed Image Text:II. Optimization 4) Maximizing profit You are the owner of Tahoe Sporting Wear and need to determine the best price to sell your most popular winter jacket. It costs you wholesale $20 to buy each jacket, and fixed costs of $50 shipping per year. You research shows that the price function is p(x)= 300 – 10x, where p is the price at which exactly x jackets will be sold. a) For what price should jackets be sold to maximize the profit? b) How many jackets will be sold per year? c) What's your maximum profit? (Remember: Profit = Revenue – Cost )
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