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Math Help - Necklace Maker

  1. #1
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    Necklace Maker

    John makes and sells necklaces. He has observed over time that when the price is $ 8 each, he sells an average of 36 per day. If he increases the price, then his average sales fall by 3 per day for each dollar increase. The materials for each necklace cost $4. Express his profit P as a function of x, the number of necklaces sold.


    P(x) = ?
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  2. #2
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    revenue, R = (8+x)(36-3x)

    cost, C = 4x

    profit = revenue - cost
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  3. #3
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    Necklaces

    John makes and sells necklaces. He has observed over time that when the price is $ 8 each, he sells an average of 36 per day. If he increases the price, then his average sales fall by 3 per day for each dollar increase. The materials for each necklace cost $4. Express his profit P as a function of x, the number of necklaces sold.




    I tried that:
    Revenue: (8+x)(36-3x)
    Cost: 4x
    So Profit: (8+x)(36-3*x)-4*x

    But it is incorrect because i am using X to detonate a price increase, whereas x should be used to detonate the number of necklaces sold..

    How do you do that?
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  4. #4
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    Quote Originally Posted by gearshifter View Post
    John makes and sells necklaces. He has observed over time that when the price is $ 8 each, he sells an average of 36 per day. If he increases the price, then his average sales fall by 3 per day for each dollar increase. The materials for each necklace cost $4. Express his profit P as a function of x, the number of necklaces sold.


    P(x) = ?
    A very very similar question has previously been asked by another member and replied to: http://www.mathhelpforum.com/math-he...n-formula.html
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  5. #5
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    Quote Originally Posted by skeeter View Post
    revenue, R = (8+x)(36-3x)

    cost, C = 4x

    profit = revenue - cost
    my mistake ... cost should be C = 4(36-3x), not 4x. my apologies.
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