Math Problem Statement
Frannie can sell 500 custom face masks each month at a price of $14. For every $1 increase in price, she sells 10 fewer face masks.
If x represents the number of $1 increases, and Revenue = Price * Quantity, then Frannie’s revenue can be calculated as: R(x) = (14 + 1x)(500 – 10x) = 7000 + 360x – 10x2
What price should she be charging for the masks to maximize her revenue?
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
Quadratic Equations
Revenue Maximization
Formulas
Revenue function: R(x) = (14 + x)(500 - 10x)
Quadratic vertex formula: x = -b/2a
Theorems
Vertex Theorem for Parabolas
Suitable Grade Level
Grades 9-12
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