Try the fastest way to create flashcards
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=−5p+1,200

Solution

Verified
Step 1
1 of 4

Revenue is defined as $R=pq,$

\begin{align*} R&=p(-5p+1200) \\ &=-5p^{2}+1200p \end{align*}

## Recommended textbook solutions

#### Finite Mathematics and Calculus with Applications

10th EditionISBN: 9780133935592Margaret L. Lial, Nathan P. Ritchey, Raymond N. Greenwell
7,669 solutions

#### Finite Mathematics and Calculus with Applications

9th EditionISBN: 9780321746238Margaret L. Lial, Nathan P. Ritchey, Raymond N. Greenwell
7,590 solutions

#### Finite Math and Applied Calculus

6th EditionISBN: 9781133607700Stefan Waner, Steven Costenoble
4,880 solutions

#### Finite Mathematics for the Managerial Life and Social Sciences

12th EditionISBN: 9781337405782Tan, Soo
3,074 solutions