Revenue and Minimum Product
The John Deere company has found that the revenue from sales of heavy-duty tractors is a function of the unit price that it charges. The revenue is
R = -p2/2 + 1900p
What is the maximum revenue?
Revenue = $1805000
Tickets to a school dance cost $4 and the projected attendance is 300 people. For every $0.10 increase in ticket price, the dance committee projects that attendance will decrease by 5. What is the maximum possible revenue? What is new price for the tickets?
# of increases = 10
new price = $5
# of increases = 11.25
new price = $27.5