During the 1950s the wholesale price for chicken for a country fell from 25¢ per pound to 14¢ per pound, while per capit
Posted: Tue May 10, 2022 5:46 pm
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. Assuming that the
demand for chicken depended linearly on the price, what wholesale
price for chicken would have maximized revenues for poultry
farmers?
¢ per pound
What would that revenue have amounted to? (Round your answer to
the nearest cent.)
$ per year
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. Assuming that the
demand for chicken depended linearly on the price, what wholesale
price for chicken would have maximized revenues for poultry
farmers?
¢ per pound
What would that revenue have amounted to? (Round your answer to
the nearest cent.)
$ per year