A manufacturer has been selling flashlights at $6 apiece, and at this price, consumers have been buying
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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?
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Related Book For
Calculus For Business, Economics And The Social And Life Sciences
ISBN: 9780073532387
11th Brief Edition
Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price
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