A coffee shop finds that at the price of $3.00, demandfor their popular cappuccino drink is 3000 cups a year.They also discovered for every $0.25 decrease inprice, demand increases by 200 cappuccinos a year.Which of the following is the price they should chargeto maximize their revenue?Select one:$3.00$4.78$4.50$3.38O O

Given that: At price of $3.00, demand = 3000 cups a year.For every $0.25 decrease in price, demand…

Answered: A coffee shop finds that at the price…

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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A coffee shop finds that at the price of $3.00, demand for their popular cappuccino drink is 3000 cups a year. They also discovered for every $0.25 decrease in price, demand increases by 200 cappuccinos a year. Which of the following is the price they should charge to maximize their revenue?