Find the Price That Maximizes the Profit If the Demand

question 190

Multiple Choice

Find the price that maximizes the profit if the demand for a product varies from 1,000 at a price of $7 each to 7,000 at a price of $1 each. Also, 5,000 could be supplied at a price of $9 each, whereas only 3,000 could be supplied for $5 each. The graph for this supply-demand problem is given below.

• A) $11
• B) $5
• C) $4
• D) $8
• E) $10

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Definitions:

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