Question: The demand function for a company is given by q = 9 8 5 e - 0 . 3 p , where p is the
The demand function for a company is given by where is the selling price per item in dollars, and q is the quantity of items demanded.
a Find the Revenue Function
b Find the Marginal Revenue Function
c What price should the company charge per item to maximize revenue? Show all steps. A Sign Chart is required with work shown for test points, for full credit.
d What is the maximum revenue?
e Is the maximum revenue a local max, a global max, or both? Explain.
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