Question
The price p and the quantity x sold of a certain product obey the demand equation below. x=4p+80,0p20 (a) Express the revenue R as a
The price p and the quantity x sold of a certain product obey the demand equation below.
x=4p+80,0p20
(a)
Express the revenue R as a function of x.
(b)
What is the revenue if 64 units aresold?
(c)
What quantity x maximizesrevenue? What is the maximumrevenue?
(d)
What price should the company charge to maximizerevenue?
(e)
What price should the company charge to earn at least $300 inrevenue?
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Introduction to Probability
Authors: Mark Daniel Ward, Ellen Gundlach
1st edition
716771098, 978-1319060893, 1319060897, 978-0716771098
