A dog food producer reduced the price of a dog food. With the price at $8 the average monthly sales has been 28000. When the price dropped to $5, the average monthly sales rose to 31000. Assume that monthly sales is linearly related to the price. What price would maximize revenue? $
A dog food producer reduced the price of a dog food. With the price at $8 the average monthly sales has been 28000. When the price dropped to $5, the average monthly sales rose to 31000. Assume that monthly sales is linearly related to the price. What price would maximize revenue? $
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:A dog food producer reduced the price of a dog
food. With the price at $8 the average monthly
sales has been 28000. When the price dropped
to $5, the average monthly sales rose to 31000.
Assume that monthly sales is linearly related to
the price.
What price would maximize revenue? $

Transcribed Image Text:A car wash reduced the price of a basic wash
as a promotion and test of the market. With the
price at $8 the average monthly sales has been
30000. When the price dropped to $6, the
average monthly sales rose to 37000. Assume
that monthly sales is linearly related to the
price.
What car wash price would maximize revenue?
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