A retailer has bought several cases of a certain imported wine. As the wine ages, its value
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A retailer has bought several cases of a certain imported wine. As the wine ages, its value initially increases, but eventually the wine will pass its prime and its value will decrease. Suppose that x years from now, the value of a case will be changing at the rate of 53 − 10x dollars per year. Suppose, in addition, that storage rates will remain fixed at $3 per case per year. When should the retailer sell the wine to obtain the greatest possible profit?
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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
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