A company manufactures and sells water bottles. Last year the company sold the water bottles for $14 each and the sales averaged 90 bottles per day. When the company increased the price by $4, the average decreased by 5 sales per day. (a) Find the demand function (price p as a function of units sold x), assuming that it is linear. (b) If the material for each water bottle costs $6, what should the selling price be to maximize the profit?

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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A company manufactures and sells water bottles. Last year the company sold the water bottles for $14 each
and the sales averaged 90 bottles per day. When the company increased the price by $4, the average decreased by 5
sales per day.
(a) Find the demand function (price p as a function of units sold x), assuming that it is linear.
(b) If the material for each water bottle costs $6, what should the selling price be to maximize the profit?
Transcribed Image Text:A company manufactures and sells water bottles. Last year the company sold the water bottles for $14 each and the sales averaged 90 bottles per day. When the company increased the price by $4, the average decreased by 5 sales per day. (a) Find the demand function (price p as a function of units sold x), assuming that it is linear. (b) If the material for each water bottle costs $6, what should the selling price be to maximize the profit?
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