A community bird-watching society makes and sells simple bird feeders to raise money for its conservation activities. The materials for each feeder cost $5, and the society sells an average of 24 per week at a price of $9 each. The society has been considering raising the price, so it conducts a survey and finds that for every dollar increase, it loses 3 sales per week. (a) Find a function that models weekly profit in terms of price per feeder. (Let x represent the price per feeder and P represent the profit.) P(x) = (b) What price should the society charge for each feeder to maximize profits? $ What is the maximum weekly profit? $

A community bird-watching society makes and sells simple bird feeders to raise money for its conservation activities. The materials for each feeder cost $5, and the society sells an average of 24 per week at a price of $9 each. The society has been considering raising the price, so it conducts a survey and finds that for every dollar increase, it loses 3 sales per week. (a) Find a function that models weekly profit in terms of price per feeder. (Let x represent the price per feeder and P represent the profit.) P(x) = (b) What price should the society charge for each feeder to maximize profits? $ What is the maximum weekly profit? $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A community bird-watching society makes and sells simple bird feeders to raise money for its conservation activities. The materials for each feeder cost $5, and the society
sells an average of 24 per week at a price of $9 each. The society has been considering raising the price, so it conducts a survey and finds that for every dollar increase, it
loses 3 sales per week.
(a) Find a function that models weekly profit in terms of price per feeder. (Let x represent the price per feeder and P represent the profit.)
P(x) =
(b) What price should the society charge for each feeder to maximize profits?
$
What is the maximum weekly profit?
$

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