The following function is a company’s price function, p(x) = 4 – ln x , where p(x) is the price (in dollars) at which quantity x (in thousands) will be sold. a) Find the revenue function R(x). [Note: Revenue is price times quantity.] b) Find the quantity and price that will maximize revenue.
The following function is a company’s price function, p(x) = 4 – ln x , where p(x) is the price (in dollars) at which quantity x (in thousands) will be sold. a) Find the revenue function R(x). [Note: Revenue is price times quantity.] b) Find the quantity and price that will maximize revenue.
Chapter3: Functions
Section: Chapter Questions
Problem 30RE: For the following exercises, use the graphs to determine the intervals on which the functions are...
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