The optimal quantity that maximized revenue

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A faculty member sells Gatorade at UNC Charlotte football games. He finds that if he raises his selling price by $1, he sells 5 less bottles each week. He turns over the operation to a Managerial Economics student for a week. The goal is to maximize revenue since the faculty member has a vast supply of Gatorade, and any unsold bottles can be sold in future weeks. The student takes over the operation for a week. She says she sold 30 bottles at the last game, and that is the optimal quantity that maximized revenue. What price did the student sell the Gatorade for?

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Reference no: EM13996818

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