a. Find the corresponding equation for the demand q in terms of the unit price p in dollars. b. Give the corresponding monthly revenue as a function of unit price pin doilars. C. What should you price the bumper stickers at in order to earn the maximum monthly revenue?
a. Find the corresponding equation for the demand q in terms of the unit price p in dollars. b. Give the corresponding monthly revenue as a function of unit price pin doilars. C. What should you price the bumper stickers at in order to earn the maximum monthly revenue?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:When your bumper stickers were priced at $6, you sold 35 in one month. This
month, you priced them at $8, and you sold 30.
a.
Find the corresponding equation for the demand q in terms of the
unit price p in dollars.
b.
Give the corresponding monthly revenue as a function of unit price
Pin dollars.
C..
What should you price the bumper stickers at in order to earn the
maximum monthly revenue?
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