The marketing research department of a computer company used a large city to test market the firms

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The marketing research department of a computer company used a large city to test market the firm’s new laptop. The department found that the relationship between price p (dollars per unit) and the demand x (units per week) was given approximately by

p = 1,296 - 0.12x2 0 < x < 80

So weekly revenue can be approximated by

R(x) = xp = 1,296x - 0.12x3 0 < x < 80

(A) Find the local extrema for the revenue function.

(B) On which intervals is the graph of the revenue function concave upward? Concave downward?

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

ISBN: 978-0134674148

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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