The price (in dollars) and the quantity sold of a certain product obey the demand equation p = X + 200. Answer the following questions:
(a) Find the model that expresses the revenue R as a function of x (Remember: R = xp)
R(x) =
(Use integers or fractions for any numbers in the expression)
(b) What is the domain of R?
The domain is {x | x is a set of all real numbers}.
(c) What is the revenue if 250 units are sold?
R =
(Round to the nearest hundredth as needed)
(d) What quantity maximizes revenue?
x =
units
What is the maximum revenue?
R =
(e) What price should the company charge to maximize revenue?