Mathematics, 12.11.2019 01:31 linnybear300
During the 1950s the wholesale price for chicken for a country fell from 25¢ per pound to 14¢ per pound, while per capita chicken consumption rose from 23.5 pounds per year to 29 pounds per year.
a.) assuming that the demand for chicken depended linearly on the price, what wholesale price for chicken would have maximized revenues for poultry farmers?
cents per pound
b.) what would have that revenue amounted to? (round your answer to the nearest cent.)
$ year
b.)
Answers: 2
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During the 1950s the wholesale price for chicken for a country fell from 25¢ per pound to 14¢ per po...
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