Consider the following problem: Find two numbers whose sum is 23 and whose product is a maximum. (a) Make a table of values, like the following one, so that the sum of the numbers in the first two columns is always 23. On the basis of the evidence in your table, estimate the answer to the problem. (b) Use calculus to solve the problem and compare with your answer to part (a).
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Textbook Solutions for Calculus: Early Transcendentals
Question
During the summer months Terry makes and sells necklaces on the beach. Last summer he sold the necklaces for each and his sales averaged 20 per day. When he increased the price by , he found that the average decreased by two sales per day. (a) Find the demand function, assuming that it is linear. (b) If the material for each necklace costs Terry , what should the selling price be to maximize his profit?
Solution
The first step in solving 4.7 problem number 60 trying to solve the problem we have to refer to the textbook question: During the summer months Terry makes and sells necklaces on the beach. Last summer he sold the necklaces for each and his sales averaged 20 per day. When he increased the price by , he found that the average decreased by two sales per day. (a) Find the demand function, assuming that it is linear. (b) If the material for each necklace costs Terry , what should the selling price be to maximize his profit?
From the textbook chapter Optimization Problems you will find a few key concepts needed to solve this.
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