The local I SCREAM ICE CREAM SHOP finds that at a price of $3.75 per scoop, the weekly demand for ice cream is 6,000 scoops. For every $0.25 increase in the price, demand decreases by 800 scoops.
The local I SCREAM ICE CREAM SHOP needs to maintain a weekly revenue of at least $22,500 in order for the owner to keep it open. What price range for ice cream scoops at the I SCREAM ICE CREAM SHOP will generate a weekly revenue of at least $22,500?
(Hint: Follow the steps below.
- Express the demand (quanity/number of) for ice cream scoops as a linear function of the price per scoop.
- Express the revenue as a function of the price per scoop.
- Determine the price range over which the weekly revenue is at least $22,500.)
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