Problem Information: Assume that at a particular gas station, the quantity of automobile fuel sold in a week is a function of the fuel's retail price.

The quantity of fuel sold in a week (in gallons) = (1,000 - 300x), where x is the price in dollars per gallon.

The function f(x) for revenues from weekly sales, in dollars, will equal x*(1000 - 300x) = 1000x - 300x^2.

Without using calculus or any other advanced math, the MS Solver plug-in can be used to find the input value for x that results in a maximum value for a function f(x). The price x is in the Solver "variable cell" and the function 1000x - 300x^2 is the Solver "objective."

Question: What is the price x that maximizes weekly revenues?

1 point

$1.45 per gallon

$16.67 per gallon

$14.50 per gallon

$1.67 per gallon