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The revenue, R, from selling a certain type of flower varies with the

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The revenue, R, from selling a certain type of flower varies with the [#permalink]

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The revenue, R, from selling a certain type of flower varies with the price per flower according to the equation \(R = –40(p – 3)^2 + 360\). What price per flower, p, should be charged to achieve the highest revenue?

A. $36
B. $12
C. $3
D. $2
E. $1
[Reveal] Spoiler: OA

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Re: The revenue, R, from selling a certain type of flower varies with the [#permalink]

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New post 03 Jan 2018, 03:42
Bunuel wrote:
The revenue, R, from selling a certain type of flower varies with the price per flower according to the equation R = –40(p – 3)2+ 360. What price per flower, p, should be charged to achieve the highest revenue?

A. $36
B. $12
C. $3
D. $2
E. $1


Hi Bunuel

Kindly confirm whether the highlighted part is \((p-3)^2\) or is it simply \((p-3)*2\) because in either case answer will be different.
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Re: The revenue, R, from selling a certain type of flower varies with the [#permalink]

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New post 03 Jan 2018, 03:46
niks18 wrote:
Bunuel wrote:
The revenue, R, from selling a certain type of flower varies with the price per flower according to the equation R = –40(p – 3)2+ 360. What price per flower, p, should be charged to achieve the highest revenue?

A. $36
B. $12
C. $3
D. $2
E. $1


Hi Bunuel

Kindly confirm whether the highlighted part is \((p-3)^2\) or is it simply \((p-3)*2\) because in either case answer will be different.


It's \(R = –40(p – 3)^2 + 360\). Edited. Thank you.
_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

PS Forum Moderator
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Re: The revenue, R, from selling a certain type of flower varies with the [#permalink]

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New post 03 Jan 2018, 04:16
Bunuel wrote:
The revenue, R, from selling a certain type of flower varies with the price per flower according to the equation \(R = –40(p – 3)^2 + 360\). What price per flower, p, should be charged to achieve the highest revenue?

A. $36
B. $12
C. $3
D. $2
E. $1


To maximize \(R\) we need to minimize \(-40(p-3)^2\) which is a negative value irrespective of \(p\)

Hence at \(p=3\); \(-40(p-3)^2=0\) hence \(R=360\)

Option C
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Re: The revenue, R, from selling a certain type of flower varies with the [#permalink]

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New post 03 Jan 2018, 09:41
Bunuel wrote:
The revenue, R, from selling a certain type of flower varies with the price per flower according to the equation \(R = –40(p – 3)^2 + 360\). What price per flower, p, should be charged to achieve the highest revenue?

A. $36
B. $12
C. $3
D. $2
E. $1


\(R = –40(p – 3)^2 + 360\)
To achieve the maximum revenue, we must decrease the term \(–40(p – 3)^2\), which becomes zero when p=3.
Answer C.
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Re: The revenue, R, from selling a certain type of flower varies with the   [#permalink] 03 Jan 2018, 09:41
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