Mr. Ripoff's gas station can sell 355 gallons of gas per day at $4.00 per gallon and 164 gallons at $5.00 per gallon. Mr. Ripoff pays $1.20 per gallon for the gas and has daily fixed costs of $500. Find the unit price p that will maximize revenue: Find the unit price p that will maximize profit: What is the maximum possible daily profit? dollars per gallon. dollars dollars.

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...
icon
Related questions
Question
100%
Mr. Ripoff's gas station can sell 355 gallons of gas per day at $4.00 per gallon and 164 gallons at $5.00 per gallon. Mr. Ripoff pays $1.20 per
gallon for the gas and has daily fixed costs of $500.
Find the unit price p that will maximize revenue:
Find the unit price p that will maximize profit:
What is the maximum possible daily profit?
dollars per gallon.
dollars
dollars.
Transcribed Image Text:Mr. Ripoff's gas station can sell 355 gallons of gas per day at $4.00 per gallon and 164 gallons at $5.00 per gallon. Mr. Ripoff pays $1.20 per gallon for the gas and has daily fixed costs of $500. Find the unit price p that will maximize revenue: Find the unit price p that will maximize profit: What is the maximum possible daily profit? dollars per gallon. dollars dollars.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 7 steps with 4 images

Blurred answer
Recommended textbooks for you
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781285741550
Author:
James Stewart
Publisher:
Cengage Learning
Thomas' Calculus (14th Edition)
Thomas' Calculus (14th Edition)
Calculus
ISBN:
9780134438986
Author:
Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:
PEARSON
Calculus: Early Transcendentals (3rd Edition)
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:
9780134763644
Author:
William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:
PEARSON
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781319050740
Author:
Jon Rogawski, Colin Adams, Robert Franzosa
Publisher:
W. H. Freeman
Precalculus
Precalculus
Calculus
ISBN:
9780135189405
Author:
Michael Sullivan
Publisher:
PEARSON
Calculus: Early Transcendental Functions
Calculus: Early Transcendental Functions
Calculus
ISBN:
9781337552516
Author:
Ron Larson, Bruce H. Edwards
Publisher:
Cengage Learning