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A bookstore can obtain a certain gift book from the publisher at a cost of $3 per book. The bookstore has been offering the book at a price of $15 per copy and, at this price, has been selling 200 copies a month. The bookstore is planning to lower its price to stimulate sales and estimates that for each $1 reduction in the price, 20 more books will be sold each month. At what price should the bookstore sell the book to generate the greatest possible profit?

Carl Lee
Wed Nov 4 09:54:55 EST 1998