I need urgent word problem help!!!!

[Linkums]

the question is:

A magazine has a circulation of 140 thousand per month when they charge $2.50 for a magazine. For each $.10 increase in price, 5 thousand sales are lost. How much should be charged per magazine to maximize revenue?

I need the answer AND most importantly the work leading up to it, so I can beat my teacher to it and get extra credit. HELP ME hERE!

 

[John_Bilout]

So, let x the number of increase you apply :

you will become some money in fonction of x :

number of magazins sold * price of each magazine


number : 140000-5000x
price : 2,5 +0.1x

So let f:=(140000-5000x)*(2.5+0.1x)
You must see in wich case f(x) is the bigger : u should expand the expression of f and derivate...
i'm sure u can continue alone...
Good luck

 

[stapel]

A magazine has a circulation of 140 thousand per month when they charge $2.50 for a magazine.

So what is their monthly income? (Hint: Multiply.)

For each $.10 increase in price, 5 thousand sales are lost. How much should be charged per magazine to maximize revenue?

If they have x = 1 ten-cent increase, how many five-thousand-issue drops do they experience? What is their new price? What is their new circulation? What is their new income?
If they have x = 2 ten-cent increases, how many five-thousand-issue drops do they experience? What is their new price? What is their new circulation? What is their new income?
If they have x = 3 ten-cent increases, how many five-thousand-issue drops do they experience? What is their new price? What is their new circulation? What is their new income?

Continue until you detect the pattern. Then build a formula for the monthly income with x ten-cent increases. Note that the formula is a negative quadratic, and recall that such a quadratic has its maximum at the vertex.

I need the answer AND most importantly the work leading up to it...

Sorry, but I don't "do" people's homework for them.

so I can beat my teacher to it

Your teacher can't figure this out? :shock: Scary.

Eliz.

 

[Linkums]

Thanks a lot! That makes sense.... and i'm sure he just blanked or something...

 

[Denis]

So Links, did you get an increase of 15 cents (lose 7500 sales) as the max ?