The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q = 800 - 20p and 0 less than or equal to p less than or equal to 40 (i) Express the revenue R as a function of q. (ii) What is the revenue if 20 units are sold? (iii) What quantity q maximizes revenue? What is the maximum revenue? (iv) What price should the company charge to maximize revenue? (v) What price should the company charge to earn at least $3500 in revenue? Thanks.
The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q = 800 - 20p and 0 less than or equal to p less than or equal to 40 (i) Express the revenue R as a function of q. (ii) What is the revenue if 20 units are sold? (iii) What quantity q maximizes revenue? What is the maximum revenue? (iv) What price should the company charge to maximize revenue? (v) What price should the company charge to earn at least $3500 in revenue? Thanks.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter4: Polynomial And Rational Functions
Section4.6: Variation
Problem 9E
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The price p (in dollars) and the quantity q sold of a certain product obey the demand
equation q = 800 - 20p and 0 less than or equal to p less than or equal to 40
(i) Express the revenue R as a function of q.
(ii) What is the revenue if 20 units are sold?
(iii) What quantity q maximizes revenue? What is the maximum revenue?
(iv) What price should the company charge to maximize revenue?
(v) What price should the company charge to earn at least $3500 in revenue?
Thanks.
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