The Acme Widget Company has found that if widgets are priced at $ 331, then 1000 will be sold. They have also found that for every increase of $ 14, there will be 500 fewer widgets sold.
The marginal cost of widgets is $ 182.05. The fixed costs for the Acme Widget Company are $ 600.
Give the appropriate formulas
How many widgets are sold
The revenue generated by the sale of widgets
The cost of producing those widgets
Profit generated by the sale of widgets
Find the price that maximizes profit
Thanks guys!!
