A bookstore can obtain a certain book from the publisher at a cost of $3 per copy.
Question:
A bookstore can obtain a certain book from the publisher at a cost of $3 per copy. The bookstore has been offering the book at the price of $15 per copy, and at this price, has been selling 200 copies a month. The bookstore is planning to lower its price to stimulate sales and estimates that for each $1 reduction in the price, 20 more books will be sold each month. Express the bookstore’s monthly profit from the sale of this book as a function of the selling price, draw the graph, and estimate the optimal selling price.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Calculus For Business, Economics And The Social And Life Sciences
ISBN: 9780073532387
11th Brief Edition
Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price
Question Posted: