The marketing department at XYZ Company has found that, when Product ABC is sold at a price of p dollars per unit, the number x of Product ABC sold is given by the demand equation = 280 – 14p. - (a) Find the model that expresses the revenue R as a function of the price p. (Note that R хр, the unit price times the number of units sold) R(p) (b) Explain how would you find the price that will maximize the revenue (the optimal price), and the maximum revenue. Use the box below to type your answer. Edit - Insert Formats В I U x, x² A (c) Find the optimal price and the maximum revenue. The optimal price: dollars The maximimum revenue: dollars

The marketing department at XYZ Company has found that, when Product ABC is sold at a price of p dollars per unit, the number x of Product ABC sold is given by the demand equation = 280 – 14p. - (a) Find the model that expresses the revenue R as a function of the price p. (Note that R хр, the unit price times the number of units sold) R(p) (b) Explain how would you find the price that will maximize the revenue (the optimal price), and the maximum revenue. Use the box below to type your answer. Edit - Insert Formats В I U x, x² A (c) Find the optimal price and the maximum revenue. The optimal price: dollars The maximimum revenue: dollars

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

Problem 6SC: A company that makes and sells baseball caps has found that the total monthly cost C in dollars of...

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