The demand function for a particular brand of LCD TV is given by p = 2870 - 35x where p is the price per unit in dollars when x television sets aresold(a) Find the revenue function.R(x)(b) Determine the number of sets that must be sold in order to maximize the revenuesets(c) What is the maximum revenue?$(d) What is the price per unit when the revenue is maximized?$per unit

Question
Asked Oct 27, 2019
The demand function for a particular brand of LCD TV is given by p = 2870 - 35x where p is the price per unit in dollars when x television sets are
sold
(a) Find the revenue function.
R(x)
(b) Determine the number of sets that must be sold in order to maximize the revenue
sets
(c) What is the maximum revenue?
$
(d) What is the price per unit when the revenue is maximized?
$
per unit
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The demand function for a particular brand of LCD TV is given by p = 2870 - 35x where p is the price per unit in dollars when x television sets are sold (a) Find the revenue function. R(x) (b) Determine the number of sets that must be sold in order to maximize the revenue sets (c) What is the maximum revenue? $ (d) What is the price per unit when the revenue is maximized? $ per unit

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Expert Answer

Step 1

As per norms, the first three questions are answered. To determine and find the critical points of the revenue function R(x) from the given data

Step 2

a) Apply the definition to get ...

By definition
a) R(x) p(x)=2870x-35x
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By definition a) R(x) p(x)=2870x-35x

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