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Question

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=−3p+300

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Answered 2 years ago
Answered 2 years ago
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Revenue is defined as R=pq,R=pq,

R=p(3p+300)=3p2+300p\begin{align*} R&=p(-3p+300) \\ &=-3p^{2}+300p \end{align*}

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