2) The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q = 800-20p and 0sps 40 (i) Express the revenue R as a function of q. (ii) What is the revenue if 20 units are sold? (iii) What quantity q maximizes revenue? What is the maximum revenue? (iv) What price should the company charge to maximize revenue? (v) What price should the company charge to carn at least $3500 in revenue?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter1: Expressions And Functions
Section1.8: Interpreting Graphs Of Functions
Problem 19PPS
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Either solve all five part or don't solve
(2) The price p (in dollars) and the quantity q sold of a certain product obey the demand
equation q = 800– 20p and 0s pS 40
(i) Express the revenue R as a function of q.
(ii) What is the revenue if 20 units are sold?
(iin) What quantity q maximizes revenue? What is the maximum revenue?
18
(iv) What price should the company charge to maximize revenue?
(v) What price should the company charge to carn at least S3500 in revenue?
Transcribed Image Text:(2) The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q = 800– 20p and 0s pS 40 (i) Express the revenue R as a function of q. (ii) What is the revenue if 20 units are sold? (iin) What quantity q maximizes revenue? What is the maximum revenue? 18 (iv) What price should the company charge to maximize revenue? (v) What price should the company charge to carn at least S3500 in revenue?
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