Elasticity question: Finding maximized price.
The consumer demand curve for cases of gadgets is given by , where p is the price per case and q is the demand in weekly sales.
a) If the gadgets cost $30 per case to produce, use calculus to determine the price that should be charged per case to maximize the weekly profit.
I know how to find revenue but the $30 in the equation's throwing me off. On my answer key the answer is $50 per case but I keep coming up with $45. Here's what I am doing:
I am sure it's something silly considering I am neglecting to incorporate the $30 into the picture but that's what 6 hours of studying at 3am will do to you! :)