Help with finding rate of increase using product/quotient rule
I've been having trouble with a particular problem from my Calculus book in the Product and Quotient rules chapter.
I was hoping someone on this forum could help me out. Thanks in advance! (Happy)
Suppose the price of an object is $14 and 12,000 units are sold. The company wants to increase the quantity sold by 1200 units per year, while increasing the revenue by $20,000 per year. At what rate would the price have to be increased to reach these goals?