Answer Happy

Provide a response to the business scenario below. If a book costs $4.99 and 1,025 books were sold, then it was on sale for $2.99 and 1,892 copies were sold. 1. What is the demand equation q(p) (hint: form 2 points (p, q) first, it's ok to use decimals but don't round too much for accuracy). 2. What is the Revenue equation R(p) (hint: R= p*q)? 3. Find the maximum revenue using 1st or 2nd derivative test (show it). 4. What is the optimal price for the book? What is the amount of books sold? Replies: comment on the solutions (are they correct and use proper notation?) for at least 2 classmates' posts. Also, answer any questions if applicable. Bonus (2 pts): Provide a worked-out example of real-life application finding max/min from section 6.2 (you can use examples from hwk).