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Maximize his profit |
2007-11-12 |
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From apoorva:
During the summer months Terry makes and sells necklaces on the beach. Last summer he sold the necklaces for $10 each and his sales averaged 20 per day. When he increased the price by $1, he found that he lost two sales per day.
a. Find the demand function, assuming it is linear.
b. If the material for each necklace costs Terry $6, what should the selling price be to maximize his profit?
Answered by Penny Nom. |
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