## Related questions with answers

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

VerifiedAnswered 2 years ago

Answered 2 years ago

Step 1

1 of 4Revenue is defined as $R=pq,$

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

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