1. Math
  2. Calculus
  3. le 3 suppose tyrion decides to sell tacos from a...

Question: le 3 suppose tyrion decides to sell tacos from a...

Question details

le 3: Suppose Tyrion decides to sell tacos from a food truck. Tyrion does not have a food truck Examp but is able to rent an adequate food truck for his purposes at a rate of $400 per day. He knows each taco serving he sells will cost him $3 to produce, but he is not sure where he should set his price. He does a little research and estimates he will be able to sell q-25 servings if he charges p-$8.50 per serving but ill be able to sell q-50 servings if he charges p-$8 per serving. Assume the relationship between price (p) and demand (q) is linear (ie the demand equation is of the form p-mq+b). Based on this information, how many taco servings must Tyrion be able to sell in order to turn a profit in a day? Hint: Construct the demand equation and then the revenue function as in class. Then solve like the previous problems (ost 33+400 2-Px Xi Vi Czs,6.s CSo, e

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution