Question: The quantity demanded of a certain product, q, is given in terms of p, the price, by q = 1000e 0.02p (a) Write revenue, R,

The quantity demanded of a certain product, q, is given in terms of p, the price, by

q = 1000e^−0.02p

(a) Write revenue, R, as a function of price.
(b) Find the rate of change of revenue with respect to price.
(c) Find the revenue and rate of change of revenue with respect to price when the price is $10. Interpret your answers in economic terms.

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