An online music store sells about 4000 songs each day when it charges $1 per song. For each $0.05 increase in price, about 80 fewer songs per day are sold. Use the verbal model and quadratic function to determine how much the store should charge per song to maximize daily revenue. R (x) = (1+0.05x) (4000-80x)

Question

Colin Houston

Mathematics

16 April, 14:39

An online music store sells about 4000 songs each day when it charges $1 per song. For each $0.05 increase in price, about 80 fewer songs per day are sold. Use the verbal model and quadratic function to determine how much the store should charge per song to maximize daily revenue. R (x) = (1+0.05x) (4000-80x)

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Answers (1)

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Konnor Garner · Answer 1

X is the number of $0.05 price increases

so

15 * 0.05 = $0.75

and so, walla, (0.75, 4900)

or

increase price by $0.75 for max profit of $4900.

otherwise your math was sound