For the demand equation, express the total revenue R as a function of the price p per item. q = -2p + 40 a.) R(p) = ____________ b.) Determine the price p (in dollars) that maximizes total revenue. p = $ ________________
Added by Casey B.
Step 1
) Total revenue R is the product of the price per item p and the quantity of items sold q. So, we can express R as a function of p by substitifying q = -2p + 40 into the equation R = pq. Show more…
Show all steps
Close
Your feedback will help us improve your experience
Donna Densmore and 97 other Precalculus educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
For the demand equation, express the total revenue R as a function of the price p per item. q = −4p + 80 R(p) = Determine the price p (in dollars) that maximizes total revenue. p = $
James K.
For each demand equation, express the total revenue $R$ as a function of the price $p$ per item, sketch the graph of the resulting function, and determine the price $p$ that maximizes total revenue in each case. $$ q=-4 p+100 $$
Nonlinear Functions and Models
Quadratic Functions and Models
For each demand equation, express the total revenue $R$ as a function of the price $p$ per item, sketch the graph of the resulting function, and determine the price $p$ that maximizes total revenue in each case. $$ q=-3 p+300 $$
Recommended Textbooks
Precalculus with Limits
Precalculus
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD