Open Question: Can anyone help me solve this maximization question, and walk me through it? Thanks!?
Saturday, April 23rd, 2011 Suppose that when a busy restaurant charges $7 for its tomato appetizer, an average
of 60 people order the dish each night. When it drops the price of the appetizer to $5, the
number ordering it rises to 66. Assume that the demand q is a linear function of the price p.
If each appetizer costs the restaurant $3 to make, use calculus to find the price it should
charge to maximize its profitt from the appetizer. You do not need to justify that your answer
provides the maximum profit.