Question 1060581

Jack & Jill charge $20 for a custom painted water pail. They currently sell 80 water pails a month. They estimate that for each $1 decrease in the cost of the pails, they could sell 15 more pails a month. What price will maximize Jack & Jill's income? If they charges this price, how much income should they expect?
<pre>{{{matrix(1,4, 7&1/3, "$1", price, reductions)}}} for a reduction of $7.33, or a reduced price of {{{highlight_green("$12.67")}}} will maximize their income.
At a reduced price of $12.67, MAXIMUM income is: {{{highlight_green("$2,406.67")}}}
Let no-one tell you otherwise!!