(Solution) - A university student center sells 1 600 cups of coffee per -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

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A university student center sells 1,600 cups of coffee per day at a price of $2.40.
(A) A market survey shows that for every $0.05reduction in price, 50 more cups of coffee will be sold. How much should the student center charge for a cup of coffee in order to maximize revenue?
(B) A different market survey shows that for every $0.10 reduction in the original $2.40 price, 60 more cups of coffee will be sold. Now how much should the student center charge for a cup of coffee in order to maximize revenue?