Question
The demand equation for a product is $p=2-.001 x .$ Find the value of $x$ and the corresponding price, $p,$ that maximize the revenue.
Step 1
So, we have $R = p \cdot x = (2 - 0.001x) \cdot x = 2x - 0.001x^2$. Show more…
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Applications of the Derivative
Applications of Derivatives to Business and Economics
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