A bookstore can obtain a certain gift book from the publisher at a cost of $3 per book. The bookstore has been offering the book at the price of $15 per copy and, at this price, has been selling 200 copies a month. The bookstore is planning to lower its price to stimulate sales and estimates that for each $1 reduction in the price, 20 more books will be sold each month. Express the bookstore’s monthly profit from the sale of this book as a function of the selling price, draw the graph, and estimate the optimal selling price.

Question

01-10-2022
Mathematics

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A bookstore can obtain a certain gift book from the publisher at a cost of $3 per book. The bookstore has been offering the book at the price of $15 per copy and, at this price, has been selling 200 copies a month. The bookstore is planning to lower its price to stimulate sales and estimates that for each $1 reduction in the price, 20 more books will be sold each month. Express the bookstore’s monthly profit from the sale of this book as a function of the selling price, draw the graph, and estimate the optimal selling price.

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