Item # 8. 15 pts A goldsmith nds that the demand for gold is governed by p(m) = -232 + kc, where a: is in
Item # 8. 15 pts A goldsmith nds that the demand for gold is governed by p(m) = -232 + kc, where a: is in (troy) ounces, 1) is in thousands of pesos and k is a positive number. a. Give the domain of the price-demand function. [4] b. Find the value of k such that the largest revenue is generated by selling 12 (troy) ounces. [7] 0. Using the value of I: obtained from (b), what is the largest revenue? [4]
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