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sand7000
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I have been trying to figure this out all day. please help.
If the cost of one unit is $10, 20 units will be sold. If the cost is $11, 18 units will be sold. a) Find the demand function assuming it is linear.
b) If the materials for each unit cost $6 what should the selling price be to maximise profit?
I believe that the demand function is p(x)=-.5x+20 but I cannot figure out how to maximise profit. PLEASE HELP!
If the cost of one unit is $10, 20 units will be sold. If the cost is $11, 18 units will be sold. a) Find the demand function assuming it is linear.
b) If the materials for each unit cost $6 what should the selling price be to maximise profit?
I believe that the demand function is p(x)=-.5x+20 but I cannot figure out how to maximise profit. PLEASE HELP!