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A revenue model The owner of a clothing store understands that the demand for shirts decreases with the price. In fact, she has developed a model that predicts that at a price of $x per shirt, she can sell D(x) = 40e¬×/50 shirts in a day. It fol- lows that the revenue (total money taken in) in a day is R(x) = xD(x) ($x/shirt D(x) shirts). What price should the owner charge to maximize revenue?

A revenue model The owner of a clothing store understands that the demand for shirts decreases with the price. In fact, she has developed a model that predicts that at a price of $x per shirt, she can sell D(x) = 40e¬×/50 shirts in a day. It fol- lows that the revenue (total money taken in) in a day is R(x) = xD(x) ($x/shirt D(x) shirts). What price should the owner charge to maximize revenue?

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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A revenue model The owner of a clothing store understands that the demand for shirts decreases with the price. In fact, she has developed a model that predicts that at a price of $x per shirt, she can sell D(x) = 40e¬×/50 shirts in a day. It fol- lows that the revenue (total money taken in) in a day is R(x) = xD(x) ($x/shirt D(x) shirts). What price should the owner charge to maximize revenue?
Transcribed Image Text:A revenue model The owner of a clothing store understands that the demand for shirts decreases with the price. In fact, she has developed a model that predicts that at a price of $x per shirt, she can sell D(x) = 40e¬×/50 shirts in a day. It fol- lows that the revenue (total money taken in) in a day is R(x) = xD(x) ($x/shirt D(x) shirts). What price should the owner charge to maximize revenue?
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