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A manufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price and is
A manufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price and is represented by the model D=2,0002P. The accounting department estimates that the total costs can be represented by C=4,000+5D. Develop a model for the total profit. Implement the model on a spreadsheet and use nonlinear optimization with Solver to find the price that maximizes profit. The price that maximizes profit is P=$. (Round to the nearest cent as needed.)
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