A publishing company expects to sell 5000 copies of a new book from its web site, if the company charges $30 per book. The company expects that 500 more books would be sold for each price reduction of $2. What price would maximize the company's revenue?

Solution :

Let the revenue be = R

Therefore, R = price x quantity

                  R = (30 - 2x) ( 5000 + 500x)

                     =

For the maximum revenue,

At , the revenue is maximum.

So the price for the maximum company revenue =

                                                                                  = 30 - 5

                                                                                  = 25

Therefore, the price that will maximize the company's revenue is $25.

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