To find: the price that the restaurant should charge to maximize daily revenue and find the maximum daily revenue.
To maximize revenue, each sandwich should be sold at $5.75 and the maximum daily revenue is
Given information:
The restaurant sells about 330 sandwiches each day at price $6 each.
For each $0.25 decrease in price, about 15 more Sandwiches 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:
Daily revenue(dollars) = Number of Sandwiches sold
So, the
Now, it is clear that here the zeros of the revenue function are -22 and 24.
The average of zeros is
So, to maximize revenue, each subscription should cost
The maximum revenue is:
Chapter 1 Solutions
EBK ALGEBRA 2
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