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The American Baker's Association reports that annual sales of bakery goods last year rose 1 5 percent, driven by a 5 0 percent increase in
The American Baker's Association reports that annual sales of bakery goods last year rose percent, driven by a percent increase in the demand for bran muffins. Most of the increase was attributed to a report that diets rich in bran help prevent certain types of cancer. You are the manager of a bakery that produces and packages gourmet bran muffins, and you currently sell bran muffins in packages of three. However, as a result of this new report, a typical consumer's inverse demand for your bran muffins is now
If your cost of producing bran muffins is determine the optimal number of bran muffins to sell in a single package and the optimal package price.
Instructions: Enter your response for the optimal package price rounded to two decimal places.
Optimal package size: units
Optimal package price: $
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