The price $p$ (in dollars) and the quantity $x$ sold of a certain product satisfy the demand equation $$ x=-5 p+100 $$ (a) Find a model that expresses the revenue $R$ as a function of $p$. (b) What is the domain of $R$ ? Assume $R$ is nonnegative. (c) What price $p$ maximizes the revenue? (d) What is the maximum revenue? (e) How many units are sold at this price? (f) Graph $R$. (g) What price should the company charge to earn at least $\$ 480$ in revenue?
Added by April B.
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Step 1: The revenue function is given by $R = x \cdot p = (-5p + 100)p = -5p^2 + 100p$. Show more…
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