Staples copy center sells 1 hour passes for unlimited copying for $25. Currently, they service 70...

 

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Staples copy center sells 1 hour passes for unlimited copying for $25. Currently, they service 70 customers per day. They are looking to increase their prices to maximize their revenue. For every $1 they increase the cost of the pass, they anticipate losing 2 customers. In this task you will answer 7 questions about the price options and recommend what price staples should charge for the passes in order to maximize revenue (income generated from the sale of goods). 1. If Staples charges $26 for the 1 hour pass, how many customers will they service? 2. If Staples charges $26 for the 1 hour pass, how much revenue can they expect? 3. Complete the table based on the price of the 1 hour pass and the number of customers serviced. Number of $1 Price Price of 1 hour Pass Expected Number of Expected Revenue Increases (x) ($) Customers 70 0 25 1 2 5 10 66 (S) 1,750 4. Create an expression that represents the price of the copy center passes. Let x = the number of $1 price increases. 5. Create an expression that represents the number of expected customers. 6. Combine your two expressions to create a quadratic equation in standard form that represents the total revenue staples received in a day. 7. Based on your findings, what price should Staples charge for one hour of unlimited printing in order to maximize revenue. Explain in 2-3 sentences. Staples copy center sells 1 hour passes for unlimited copying for $25. Currently, they service 70 customers per day. They are looking to increase their prices to maximize their revenue. For every $1 they increase the cost of the pass, they anticipate losing 2 customers. In this task you will answer 7 questions about the price options and recommend what price staples should charge for the passes in order to maximize revenue (income generated from the sale of goods). 1. If Staples charges $26 for the 1 hour pass, how many customers will they service? 2. If Staples charges $26 for the 1 hour pass, how much revenue can they expect? 3. Complete the table based on the price of the 1 hour pass and the number of customers serviced. Number of $1 Price Price of 1 hour Pass Expected Number of Expected Revenue Increases (x) ($) Customers 70 0 25 1 2 5 10 66 (S) 1,750 4. Create an expression that represents the price of the copy center passes. Let x = the number of $1 price increases. 5. Create an expression that represents the number of expected customers. 6. Combine your two expressions to create a quadratic equation in standard form that represents the total revenue staples received in a day. 7. Based on your findings, what price should Staples charge for one hour of unlimited printing in order to maximize revenue. Explain in 2-3 sentences.

Answer rating: 100% (QA)

Answer Lets address each question step by step 1 To find out how many customers Staples will service if they charge 26 for the 1hour pass well need to ... View the full answer