20 Nov 2021
Problem 46a
Page 308
Section 4.6: Optimization Problems
Chapter 4: Applications of Differentiation
Textbook ExpertVerified Tutor
20 Nov 2021
Given information
1. During the summer months Terry makes and sells necklaces on the beach.
2. Last summer he sold the necklaces for each and his sales averaged 20 per day.
3. When he increased the price by , he found that the average decreased by two sales per day.
4. Demand function is linear.
5. The material for each necklace costs Terry .
Step-by-step explanation
Step 1.
Let the demand function be
in slope-intercept form.
Therefore we have the following sets of equations from the given information