Answered: 4. Suppose the demand function for a…

4. Suppose the demand function for a product is 'p(x) = 400-(1/10000)x*3 (in dollars). What price maximizes revenue? (Don't forget to use the sales level to compute the price.)

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 13E

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4. Suppose the demand function for a product is 'p(x) = 400-(1/10000)x^3" (in dollars). What price maximizes revenue? (Don't forget to use the sales
level to compute the price.)
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Answer:" dollars

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