Answer: The club members estimate that they will sell 100 tote bags when the price is $11 each, and for every price increase of $1, they estimate they will sell 10 fewer bags. If the price increases to $13, then this is a $2 increase from the original price, so we can calculate the number of fewer bags they estimate they will sell:
10 fewer bags per $1 increase * $2 increase = 20 fewer bags
To find the number of bags they estimate they will sell when the price is $13, we can subtract this decrease from the original number of bags they estimate they will sell:
100 bags - 20 fewer bags = 80 bags
To find the revenue in dollars, we can multiply the number of bags they estimate they will sell by the price of the bags:
80 bags * $13 per bag = $1040
So the estimated revenue when the bags are priced at $13 each is $1040
Explanation: