Phillip, the Proprietor of a Vineyard, Estimates That the First

question 31

Multiple Choice

Phillip, the proprietor of a vineyard, estimates that the first 10,000 bottles of wine produced this season will fetch a profit of $4/bottle. However, the profit from each bottle beyond 10,000 drops by $0.0004 for each additional bottle sold. ​
Assuming at least 10,000 bottles of wine are produced and sold, what is the maximum profit? What would be the price/bottle in this case?
​

• A) The maximum profit is $30,000.00, the price/bottle is $3.70/bottle
• B) The maximum profit is $40,000.00, the price/bottle is $4.00/bottle
• C) The maximum profit is $35,000.00, the price/bottle is $3.90/bottle
• D) The maximum profit is $25,000.00, the price/bottle is $3.60/bottle
• E) The maximum profit is $20,000.00,the price/bottle is $4.00/bottle

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Definitions:

Fixed Time For Payment

A specific date or period agreed upon for the repayment of a loan or fulfillment of a payment obligation.

Negotiable

Refers to the flexibility or ability to be transferred to another party in exchange for money or goods, commonly associated with financial instruments like checks or bonds.

Rare Antique Vase

A unique and old decorative container made of material like ceramic, metal, glass, or porcelain with high historical or collectible value.

Indefinite Future Time

A period that has no specified end date.