A coffee shop currently sells 410 lattes a day at $3.25 each. They recently tried raising...

 

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A coffee shop currently sells 410 lattes a day at $3.25 each. They recently tried raising the by price by $0.25 a latte, and found that they sold 30 less lattes a day. a) Assume that the number of lattes they sell in a day, N. is linearly related to the sale price, p (in dollars). Find an equation for N as a function of p. N(p) = b) Revenue (the amount of money the store brings in before costs) can be found by multiplying the cost per cup times the number of cups sold. Again using p as the sales price, use your equation from above to write an equation for the revenue, R as a function of p R(p) c) The store wants to maximize their revenue (make as much money as possible). Find the value of p that will maximize the revenue (round to the nearest cent). p= which will give a maximum revenue of $ A coffee shop currently sells 410 lattes a day at $3.25 each. They recently tried raising the by price by $0.25 a latte, and found that they sold 30 less lattes a day. a) Assume that the number of lattes they sell in a day, N. is linearly related to the sale price, p (in dollars). Find an equation for N as a function of p. N(p) = b) Revenue (the amount of money the store brings in before costs) can be found by multiplying the cost per cup times the number of cups sold. Again using p as the sales price, use your equation from above to write an equation for the revenue, R as a function of p R(p) c) The store wants to maximize their revenue (make as much money as possible). Find the value of p that will maximize the revenue (round to the nearest cent). p= which will give a maximum revenue of $

Answer rating: 100% (QA)

a Lets denote the original number of lattes sold per day as N 0 the original price per latte as p 0 and the change in the number of lattes sold as N A... View the full answer