Generate the greatest possible profit

Reference no: EM13178713

A manufacturer has been selling lamps at the price of $6/lamp, and at this price they have been selling 3000 lamps a month. The manufacturer wishes to raise the price and estimated that for each $1 increase they will sell 1000 fewer lamps a month. The manufacturer can produce the lamps at a cost of $4 per lamp. At what price should the manufacturer sell the lamp to generate the greatest possible profit?

Reference no: EM13178713

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