(10)A Widget manufacturer finds that the demand for the number of widgets they can sell each week follows a linear model. If they sell widgets for $40, they can sell 2700 widgets. If they reduce the price to $30, demand goes up to 3300 widgets. a. Find the equation for the demand function; $d(x)$. b. Give the revenue function; $R(x) = x(d(x))$. c. Find the price that maximizes the revenue. d. Find the maximum revenue.
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We can use the formula for slope, which is given by: slope = (change in y) / (change in x) In this case, the change in y is the change in the number of widgets sold, and the change in x is the change in price. We are given two points on the line: (40, 2700) and Show more…
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