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The cost of making a widget is 75 cents. If they are sold for $1.95 each, 3000 widgets can be sold. For every cent the
The cost of making a widget is 75 cents. If they are sold for $1.95 each, 3000 widgets can be sold. For every cent the price is lowered, 60 more widgets can be sold.
(a) If x is the price of a widget in cents, then the net profit is p(x) = ax2 + bx + c where a = ___, b =___ , and c =___ .
(b) The "best" price (that is, the price that maximizes profit) is x = $ __ .
(c) At this best price the profit is $__ .
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