1. Recall that revenue is related to price and the number of widgets sold.Assume that the annual widget sales match the annual widget demand, and construct a model for revenue using the model for price that you found in the Price section, remember that R ( x ) = x p ( x ) , this is how we have calculated revenue for the homework questions we have done in class.Do not calculate R ( x ) any other way and do not make a scatter plot for R ( x ) since we do not have any data points given for revenue and do not try to create table of values.Give your model for revenue R ( x ) , where R ( x ) is the total annual revenue in dollars for x widgets sold.
2. What number of widgets sold will yield positive revenue?Be sure to answer in complete sentences and to include units.Explain how you found the results.
3. Determine the number of widgets that you should try to sell in order to maximize revenue.What is the maximum revenue?Be sure to answer in complete sentences and to include units.Explain how you found the results.