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Demand for a coffee machine decreases by 100 units for every $ 5 increase in price. At price $ 80, the number of machine sold is 400 units. O Total revenue is maximized when the price is $ 50. O Total revenue is maximized when the price is $ 60. O None of others are correct. Total revenue is maximized when the price is $ 70. O Total revenue is maximized when the price is $ 65. O Total revenue is maximized when the price is $ 55

Demand for a coffee machine decreases by 100 units for every $ 5 increase in price. At price $ 80, the number of machine sold is 400 units. O Total revenue is maximized when the price is $ 50. O Total revenue is maximized when the price is $ 60. O None of others are correct. Total revenue is maximized when the price is $ 70. O Total revenue is maximized when the price is $ 65. O Total revenue is maximized when the price is $ 55

Calculus: Early Transcendentals
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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**Problem Statement:** Demand for a coffee machine decreases by 100 units for every $5 increase in price. At a price of $80, the number of machines sold is 400 units. **Question:** Select the correct option where total revenue is maximized: 1. Total revenue is maximized when the price is $50. 2. Total revenue is maximized when the price is $60. 3. None of the others are correct. 4. Total revenue is maximized when the price is $70. 5. Total revenue is maximized when the price is $65. 6. Total revenue is maximized when the price is $55.
Transcribed Image Text:**Problem Statement:** Demand for a coffee machine decreases by 100 units for every $5 increase in price. At a price of $80, the number of machines sold is 400 units. **Question:** Select the correct option where total revenue is maximized: 1. Total revenue is maximized when the price is $50. 2. Total revenue is maximized when the price is $60. 3. None of the others are correct. 4. Total revenue is maximized when the price is $70. 5. Total revenue is maximized when the price is $65. 6. Total revenue is maximized when the price is $55.
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