A manufacturer has been selling flashlights at $6 apiece, and at this price, consumers have been buying

Question:

A manufacturer has been selling flashlights at $6 apiece, and at this price, consumers have been buying 3,000 flashlights per month. The manufacturer wishes to raise the price and estimates that for each $1 increase in the price, 1,000 fewer flashlights will be sold each month. The manufacturer can produce the flashlights at a cost of $4 per flashlight. At what price should the manufacturer sell the flashlights to generate the greatest possible profit?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Calculus For Business, Economics And The Social And Life Sciences

ISBN: 9780073532387

11th Brief Edition

Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price

Question Posted: