goldsmith finds that the demand for gold is governed by p(x) = -x² + kx, here x is in (troy) ounces, p is in thousands of pesos and k is a positive number. a. Give the domain of the price-demand function. b. Find the value of k such that the largest revenue is generated by selling 12 (troy) ounces. C. Using the value of k obtained from (b), what is the largest revenue?

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
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A goldsmith finds that the demand for gold is governed by p(x) = -x² + kx,
vhere x is in (troy) ounces, p is in thousands of pesos and k is a positive number.
a. Give the domain of the price-demand function.
b. Find the value of k such that the largest revenue is generated by selling 12
(troy) ounces.
c. Using the value of k obtained from (b), what is the largest revenue?
Transcribed Image Text:A goldsmith finds that the demand for gold is governed by p(x) = -x² + kx, vhere x is in (troy) ounces, p is in thousands of pesos and k is a positive number. a. Give the domain of the price-demand function. b. Find the value of k such that the largest revenue is generated by selling 12 (troy) ounces. c. Using the value of k obtained from (b), what is the largest revenue?
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