A group sells bird feeders to raise money. The group sells an average of 10 feeders per week at a price of $35 per feeder. The group conducts a survey and finds for every five dollar increase in price, it will lose two sales per week. A) What is the demand function for the bird feeders, that is, what is the average quantitiy q of the feeders sold as a function of price p per feeder? B) find a function that models the revenue R in terms of price p per feeder. C) What price should be charged to maximize the revenue?
A group sells bird feeders to raise money. The group sells an average of 10 feeders per week at a price of $35 per feeder. The group conducts a survey and finds for every five dollar increase in price, it will lose two sales per week. A) What is the demand function for the bird feeders, that is, what is the average quantitiy q of the feeders sold as a function of price p per feeder? B) find a function that models the revenue R in terms of price p per feeder. C) What price should be charged to maximize the revenue?
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 group sells bird feeders to raise money. The group sells an average of 10 feeders per week at a price of $35 per feeder. The group conducts a survey and finds for every five dollar increase in price, it will lose two sales per week.
A) What is the demand function for the bird feeders, that is, what is the average quantitiy q of the feeders sold as a function of price p per feeder?
B) find a function that models the revenue R in terms of price p per feeder.
C) What price should be charged to maximize the revenue?
D) What would the mximun revenue be at that price?
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