Statistics Solutions

[Solution Library] PROFIT Bea Johnson, the owner of the Bea Nice boutique, estimates that when a particular kind of perfume is priced at p dollars per bottle,

Question: PROFIT Bea Johnson, the owner of the Bea Nice boutique, estimates that when a particular kind of perfume is priced at \(p\) dollars per bottle, she will sell

\[B(p)=\frac{500}{p+3} \quad p \geq 5\]

bottles per month at a total cost of

\[C(p)=0.2 p^{2}+3 p+200 \quad \text { dollars }\]
  1. Express Bea's profit \(P(p)\) as a function of the price \(p\) per bottle.
  2. At what rate is the profit changing with respect to \(p\) when the price is $12 per bottle? Is profit increasing or decreasing at that price?

Price: $2.99
Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document


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