A deli sells 640 sandwiches per day at a price of $8 each. (A) A market survey
Question:
A deli sells 640 sandwiches per day at a price of $8 each.
(A) A market survey shows that for every $0.10 reduction in price, 40 more sandwiches will be sold. How much should the deli charge for a sandwich in order to maximize revenue?
(B) A different market survey shows that for every $0.20 reduction in the original $8 price, 15 more sandwiches will be sold. Now how much should the deli charge for a sandwich in order to maximize revenue?
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Solution a In order to maximize revenue the deli should charge 800 since when i...View the full answer
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Related Book For 
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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