Question
We found that the marketing research department for the company that manufactures and sells memory chips for microcomputers established the followingprice-demand and revenuefunctions: p(x)=1154x Price-demand
We found that the marketing research department for the company that manufactures and sells memory chips for microcomputers established the followingprice-demand and revenuefunctions:
p(x)=1154x Price-demand function
R(x)=xp(x)=x(1154x Revenue function
wherep(x) is the wholesale price in dollars at which x million chips can besold, andR(x) is in millions of dollars. Both functions have domain 1 x 23.
(A) Which of the following is the graph of the revenuefunction?
(B) Find the output that will produce the maximum revenue.
What is the maximumrevenue? in millions
(C) What is the wholesale price per chip that produces the maximumrevenue?
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