Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

. 1. A food truck is trying to determine where to sell its sandwiches. Two locations are possible. The cost of the food is $2

image text in transcribed
. 1. A food truck is trying to determine where to sell its sandwiches. Two locations are possible. The cost of the food is $2 per sandwich and the owner wants to price sandwiches so at least 450 are sold each day. The truck could hold the ingredients for up to 700 sandwiches a day. Option A: This neighborhood charges the owner $40 for the operating license. If the sandwiches are priced at $8 each, 500 will be sold each day. The price function is linear. If the price is decreased by $0.10, five more sandwiches will be sold. Option B: This neighborhood charges the owner $1,000 for the operating license. If the sandwiches are priced at $8 each, 640 will be sold each day. The price function is linear. If the price is decreased by $0.10, five more sandwiches will be sold. For each option, 1. Determine the price function, revenue function, cost function, and profit function. Define your variables and specify an appropriate domain, it. Use the method shown in 14.2 (p. 763) to determine the limber of sandwiches sold that will maximize the profit for each option ill. Which neighborhood should the food truck owner choose? For that option, give the sandwich price, the associated number of sandwiches sold, and the associated profit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mastering IT Auditing A Comprehensive Guide To Learn IT Auditing

Authors: Cybellium Ltd, Kris Hermans

1st Edition

B0CHL1KLZ6, 979-8861236751

More Books

Students also viewed these Accounting questions