To find: the price that the store should charge to maximize monthly revenue and find the maximum monthly revenue.
To maximize revenue, each DVD player should be sold at $120 and the maximum monthly revenue is
Given information:
The store sells 50 new model DVD player per month at price $140 each.
For each $10 decrease in price, about 5 more DVD players per month are sold.
Property Used:
Factoring and Zeros:
To find the maximum or minimum value of a quadratic function, first use factoring to write the function in intercept form
Calculation:
Let x represent the price decrease and
Now, the required verbal model is:
Monthly revenue(dollars) = Number of DVD players sold
So, the
Now, it is clear that here the zeros of the revenue function are 14 and -10.
The average of zeros is
So, to maximize revenue, each subscription should cost
The maximum monthly revenue is:
Chapter 1 Solutions
EBK ALGEBRA 2
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