Question 206241: Good day! please help me with this problem... i'm kind of slow in math.
A survey shows that 60000 people will buy a certain type of sandwich in a period of one week if the cost is 40. Suppose that for every 2.50 added to the price, 2000 fewer people will buy the sandwich
a.) What price will give the greatest revenue for the week?
b.) What is the approximate maximum possible profit for the week if the food supplier spreads approximately 1.5 million pesos to ensure a supply of the sandwiches for one week?
Answer by RAY100(1637)   (Show Source):
You can put this solution on YOUR website! Let's just make a table
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UNITS SOLD,,,,,,Unit Price,,,,,,,REVENUE
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60,000,,,,,,,,,,,,,40,,,,,,,,,,,,,,2,400,000
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50,000,,,,,,,,,,,,,52.5,,,,,,,,,,,,2,625,000
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48,000,,,,,,,,,,,,,55,,,,,,,,,,,,,,2,640,000
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46,000,,,,,,,,,,,,,57.5,,,,,,,,,,,,2,645,000,,,max
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44,000,,,,,,,,,,,,,60,,,,,,,,,,,,,,2,640,000
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42,000,,,,,,,,,,,,,62.5,,,,,,,,,,,,2,625,000
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40,000,,,,,,,,,,,,,65,,,,,,,,,,,,,,2,600,000
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30,000,,,,,,,,,,,,,77.5,,,,,,,,,,,,2,325,000
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.Max Revenue is 2,645,000 at volume of 46,000,unit cost of 57.5
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If supplier cost is 1,500,000,,,,net profit is 1,145,000
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