If, in a monopoly market, the demand function for a product is p=228-0.4x and the revenue function is R=px, where x is the number of units sold and p is the price per unit, what price per unit will maximize revenue? ANSWER: dollars per unit Do not include units in the answer box. Just a number. If rounding is necessary, round to the nearest cent.
If, in a monopoly market, the demand function for a product is p=228-0.4x and the revenue function is R=px, where x is the number of units sold and p is the price per unit, what price per unit will maximize revenue? ANSWER: dollars per unit Do not include units in the answer box. Just a number. If rounding is necessary, round to the nearest cent.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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This is question 3 from my homework, please help me!
Transcribed Image Text:If, in a monopoly market, the demand function for a product is
p=228-0.4x and the revenue function is R=px, where x is the
number of units sold and p is the price per unit, what price per
unit will maximize revenue?
ANSWER:
dollars per unit
Do not include units in the answer box. Just a number. If
rounding is necessary, round to the nearest cent.
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