Maximizing revenue: Due to past experience, a jeweler knows that if they price jade rings at $60, they will sell 120 each day. For each decrease of $2, five additional sales will be made. This means the jeweler’s revenue can be modeled by the formula R = (60 − 2x)(120 + 5x), where x is the number of $2 decreases. Multiply out the binomials and use a table of values to determine what price will give the most revenue.
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