Question: S. tonsider yourself as an entrepreneur at the mall selling 300 donuts a day at $5 each. When you raised the price to $7

S. tonsider yourself as an entrepreneur at the mall selling 300 donuts a day at $5 each. When you raised the price to $7 each, the sale dropped to 150 donuts per day. Assume that there is a linear relationship between the price and number of donuts sold. Further assume that there is a fix cost (overhead) of $200 per day and the cost of each donut is .70C. What would be the price of the donut to maximize the profit?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Consider yourself as an entrepreneur at the Mall selling 5000 donuts a day at 50 each. When you raised the price to 70 each, the sale dropped to 4000 donuts per day. Now, assume that there is a...

1. Find all of the critical points and locam max and min of the function f(x)=x 3 - 6x 2 + 5 2. Find the shortest distance from a point (3,5) to the graph y=x 2 3. Consider yourself as an...

Consider yourself an entrepreneur at the Mall selling 3000 donuts a day at $0.75 each. When you raised the price to $1.00 each, the sale dropped to 2500 donuts per day. Now, assume that there is a...

1. Find the maximum and minimum values attained by the function: f(x)= x+ 5/x 2. Given the function: f(x) = (1+x) 3/2 - 3/2x - 1 Prove that it is increasing on (0, + infinity ) analytically, without...

Consider yourself as an entrepreneur at the mall selling E-{i donuts a day at 5421:: each. 1Illil'hen you raised the price to TDC each, the sale dropped to 500D donuts per day. Assume that there is a...

I'm in serious need of help in my accounting class (acc205) . I'm falling behind and I need help with this weeks assignment. for week three for the may-june month . can someone please help me ....

Good Morning... I need help with questions 1-7 for Case 6 in the document attached...Please. Cases for Management Decision-Making CA-1 Suggested Uses of Cases Case Overview CASE 1 This case is the...

Can you please help me with questions 8 and 9 for Case 6..... I have answers to questions 1-7 if needed... Cases for Management Decision-Making CA-1 Suggested Uses of Cases Case Overview CASE 1 This...

3page write-up case analysis. See the attached file. BAKE ME A CAKE, IVEY W13020 Format 3 pages MAX including all narrative, tables, charts, graphs , etc...BEAUTIFUL LOOK (maximum length does not...

hi I need answers to those questions as soon as possible thank you File Home Insert Draw Page Layout Formulas Data Review View Help Share Comments @ A & Cut Garamond 12 III NO ab Wrap Text General...

The file Natural Gas contains the monthly average wellhead and residential price for natural gas (dollars per thousand cubic feet) in the United States from January 1, 2008, to January 1, 2012. For...

Grignard reagents react slowly with oxetane to produce primary alcohols. Propose a mechanism for this reaction, and suggest why oxetane reacts with Grignard reagents even though most ethers do not....

6 Multiple Choice 1 point Which legislative act speci ics additional regulation of hedge funds, derivatives, credit cards, mortgages and ocher francial products The Securities Act of 1 9 3 4 The Dodd...

Christine owns and runs 'Christine's Cars', a car hire business. In August 2016 Christine entered a particularly lucrative contract with a private school, called the Wisteria Lodge School. The...

3. How can we use information and communication to generate trust?

4. How can we use information and communication to influence other people?

2. Why do we have more confidence in what one person tells us than in what another person tells us?