SOLUTION: k. What price would you sell the tile sets at to realize this profit (hint, use the demand equation from part a)?

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Question 138844: k. What price would you sell the tile sets at to realize this profit (hint, use the demand equation from part a)?
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
From part a), we found the demand equation p=-x%2B62 where x is the number of units sold and p is the price.


To find the demand simply plug in x=28 (remember, we max out the profit when 28 tiles are sold)


p=-x%2B62 Start with the given equation


p=-28%2B62 Plug in x=28


p=34 Add


So the price should be set at $34