Maximizing revenue: Due to past experience, the manager of a video store knows that if a popular video game is priced at $30, the store will sell 40 each day. For each decrease of $0.50, one additional sale will be made. The formula for the store’s revenue is then R = (30 − 0.5x)(40 + x), where x represents the number of times the price is decreased. Multiply the binomials and use a table of values to determine (a) the number of 50¢ decreases that will give the most revenue and (b) the maximum amount of revenue.
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