The price p (in dollars) and the quantity q sold of a certain product obey the demand Equation : q = 800 - 20p and 0 ≤ p ≤ 40 (i) What price should the company charge to maximize revenue? (ii) What price should the company charge to earn at least $3500 in revenue?

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter9: Systems Of Equations And Inequalities
Section9.3: Systems Of Inequalities
Problem 2E
icon
Related questions
Question

The price p (in dollars) and the quantity q sold of a certain product obey the demand

Equation : q = 800 - 20p and  0 ≤ p ≤ 40

(i) What price should the company charge to maximize revenue?

(ii) What price should the company charge to earn at least $3500 in revenue?

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage