Question

Help with word problem!
A hot dog vendor at a place averages 140 dogs per day when the price is $3. if for every $0.25 increase in the price, 10 fewer hot dogs are sold in average what price maximizes the revenue?
Thanks!!

Answer 1

Did you leave out some words or is that the whole word problem?

Answer 2

its the whole thing

Answer 3

suppose to use the quadratic function

Answer 4

Ok. Np.

Answer 5

Either 3.25 or 3.50.

Answer 6

3.25 -.-

Answer 7

how did you get that?

Answer 8

is it (2+.25x)(140-10x) equation than you solved for h and k?
@Cbaker213

Answer 9

Hold on. Brb.

Answer 10

what do you think the revenue of the vendor will be if he sells them for $3?

Answer 11

what do you mean?

Answer 12

well, notice your material
he originally is selling the hotdogs for $3, what kind of revenue do you think he's getting?

Answer 13

or I should say, what does "revenue" mean?

Answer 14

@radar can you help?

Answer 15

The post that had $3.25 would maximize his profit, grossing $422.50 The price of $3.00 and $3.50 puts it at $420.00 and further increases will result in even less sales.

Answer 16

Now I believe this is a calculus problem where you differentiate to find maxima or minima. My problem is I can't remember how to formulate the equation which establishes his profit.

Answer 17

What are you studying now?

Answer 18

pre-calc

Answer 19

im suppose to use the quadratic function to find h and k

Answer 20

Is their a sample problem in your study material that sheds some light on it?

Answer 21

yeah (3+.25x)(140-10x) should be the starting factors
the old price plus new increased times how many dog minus how how many lost

Answer 22

I can't relate that to the problem. I solved it by making a chart and showing the increase or decrease in revenue. Sorry but can't be of any more help