Acompany can produce a toy bear at a cost of $5 per bear. when the company sells the bears at a price of $34, they can sell 560 bears each week. it is estimated that for every $0.50 decrease in the price, they can sell 20 more bears. find the price that will maximize the profit for the company.

$290

Step-by-step explanation:

Costing price of a toy bear = $5.00

Selling price of a toy bear = $34.00

Profit comes from each toy bear = 34.00 - 5.00

                                                      = $29.00

Company can sell the number of toy bears each week = 560

The profit for the week = 560 × 29.00 = $16,240

If the company decrease $0.50 in the price.

The new price would be = $34.00 - $0.50

                                         = $33.50

The profit from each bear = 33.50 - 5.00 = $28.50

They can sell 20 more bears.

Now the number of sale of bears = 560 + 20

                                                        = 580

Now the profit for the week = 580 × 28.50

                                              = $16,530

The price that will maximize the profit = 16,530 - 16240

                                                                   = $290

x=0

step-by-step explanation:

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