The demand for yams is given in Problem 14. (a) At a price of $2 per pound,

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The demand for yams is given in Problem 14.
(a) At a price of $2 per pound, what is the total revenue for the yam farmer?
(b) Write revenue as a function of price, and then find the price that maximizes revenue.
(c) What quantity is sold at the price you found in part (b), and what is the total revenue?
(d) Show that E = 1 at the price you found in part (b).

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Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

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Question Posted: Apr 12, 2023 04:09 AM

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The demand for yams is given in Problem 14. (a) At a price of $2 per pound,

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a At a price of 2pound the quantity sold is q 5000 102 2 5000 40 4960 so the total revenue is R pq 2 ...View the full answer

Applied Calculus

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