Instruction
This is a Finite math and applied calculus class. There are three questions and the important thing that you must show works to every single question. I do not want the answer by itself I need you show me the solutions then the finial answer.
Here is the questions
1) A deli sells 640 sandwiches per day at the price of $8 each.
A market study shows that for every reduction of $0.10 in price, 40 more sandwiches will be sold. How much should the deli charge in order to maximize revenue?
2) A company manufactures and sells x items per week. The weekly price-demand and cost equations are:
p = 400 0.4x and C(x) = 2,000 + 160x
a) What price should the company charge for the item and how many items should be produced to maximize the weekly revenue?
b) What is the maximum revenue?
c) What is the weekly profit?
3) A pharmacy has an annual demand for 200 bottles of a certain medication. It costs $10 to store one bottle of the medication for one year and $40 to place an order for the medication. How many times during the year should the pharmacy order the medication to minimize the total storage and reorder costs?