Concept explainers
To find: the price that the magazine should charge to maximize annual revenue and find the maximum annual revenue.
To maximize revenue, each subscription should cost $12.5 and the maximum annual revenue is
Given information:
The magazine has 28,000 subscribers when it charges $11 per annual subscription.
For each $1 increase in price, the magazine loses about 2000 subscribers.
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 increase and
Now, the required verbal model is:
Annual revenue(dollars) = Number of subscribers
So, the
Now, it is clear that here the zeros of the revenue function are 14 and -11.
The average of zeros is
So, to maximize revenue, each subscription should cost
The maximum annual revenue is:
Chapter 1 Solutions
EBK ALGEBRA 2
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