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) 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?

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter9: Polynomial And Rational Functions
Section9.4: Graphing Polynomial Functions
Problem 44PS: A company determines that its weekly profit from manufacturing and selling x units of a certain item...
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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 ≤ p ≤ 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?

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