Question: 1 The demand function for a particular product is q= f(p) = 600,000 - 2,500p where q is stated in units and p is stated

1 The demand function for a particular product is q= f(p) = 600,000 - 2,500p where q is stated in units and p is stated in dollars. Determine the quadratic total revenue function, where R is a function of p, or R = g(p). What is the concavity of the function? What is the q intercept? What does total revenue equal at a price of $50? How many units will be demanded at this price? At what price will total revenue be maxi- mized? (Hint: Does the vertex correspond to maximum R?) 2 The weekly demand function for a particular product is 10 q = f(p) = 2,400 - 15p where q is stated in units and p is stated in dollars. Determine the quadratic total revenue function, where R is a function of p, or R = (p). What is the concavity of the function? What is the q intercept? What does total revenue equal at a price of $50? How many units will be demanded at this price? At what price will total revenue be maxi- mized? (Hint: Does the vertex correspond to maximum R?) 3 The monthly demand function for a particular product is q = f(p) = 30,000 - 25p where q is stated in units and p is stated in dollars. Determine the quadratic total revenue function, where R is a function of p, or R = g(p). What is the concavity of the function? What is the q intercept? What does total revenue equal at a price of $60? How many units will be demanded at this price? At what price will total revenue be maxi- mized

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