The price p (in dollars) and the quantity x sold of a certain product satisfy the demand
Question:
The price p (in dollars) and the quantity x sold of a certain product satisfy the demand equation x = −20p + 500.
(a) Find a model that expresses the revenue R as a function of p.
(b) What is the domain of R ? Assume R is nonnegative.
(c) What price p maximizes the revenue?
(d) What is the maximum revenue?
(e) How many units are sold at this price?
(f) Graph R.
(g) What price should the company charge to earn at least $3000 in revenue?
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a The revenue R is the product of the price p and the quantity x sold So we can express R as a funct...View the full answer
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Related Book For
Precalculus Concepts Through Functions A Unit Circle Approach To Trigonometry
ISBN: 9780137945139
5th Edition
Authors: Michael Sullivan
Question Posted:
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