SOLUTION: Please help me solve this equation : a marketing team has determined that the relationship between the selling price of a particular item and it's profit ca
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Question 1081631: Please help me solve this equation : a marketing team has determined that the relationship between the selling price of a particular item and it's profit can be represented by the equation p=-30s^2+1400s-16000 where s represents the selling price and p represents the yearly profit. Determine what selling price will yield the maximum profit and what the profit would be at that price . Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Please help me solve this equation : a marketing team has determined that the relationship between the selling price of a particular item and it's profit can be represented by the equation p=-30s^2+1400s-16000 where s represents the selling price and p represents the yearly profit. Determine what selling price will yield the maximum profit and what the profit would be at that price .
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p' = -60s + 1400
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Solve::
-60s + 1400 = 0
s = 1400/60
s = 23.33 (selling price)
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Solve::
Profit = -30*23.33^2 + 1400*23.33 - 16000 = $328.67
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Cheers,
Stan H.
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