A kids' organization is currently selling their candy bars for $3 each, and sold 400 bars last year. Research has suggested that for each $0.25 price increase, they will sell 50 less candy bars. They want to know what price should they sell their candy bars at to maximize their revenue. Help them get started by setting up the revenue equation. You do not need to find the optimal price, just set up the revenue equation. Be sure to define your variables clearly.

A kids' organization is currently selling their candy bars for $3 each, and sold 400 bars last year. Research has suggested that for each $0.25 price increase, they will sell 50 less candy bars. They want to know what price should they sell their candy bars at to maximize their revenue. Help them get started by setting up the revenue equation. You do not need to find the optimal price, just set up the revenue equation. Be sure to define your variables clearly.

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter8: Functions

Section8.CR: Review Problem Set

Problem 50CR

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Similar questions

If you graph a revenue and cost function, explain how to determine in what regions there is profit.
If you perform your break-even analysis and there is more than one solution, explain how you would determine which x-values are profit and which are not.
Does Table 2 represent a linear function? If so, finda linear equation that models the data.

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