pheep and the quantity x sold of a certain product obey the demand equation below. x= -8p+176, 0sps22 (a) Express the revenue R as a function of x. (b) What is the revenue if 144 units are sold? (c) What quantity x maximizes revenue? What is the maximum revenue? (d) What price should the company charge to maximize revenue? (e) What price should the company charge to earn at least $576 in revenue? (a) R(x) = TTS

pheep and the quantity x sold of a certain product obey the demand equation below. x= -8p+176, 0sps22 (a) Express the revenue R as a function of x. (b) What is the revenue if 144 units are sold? (c) What quantity x maximizes revenue? What is the maximum revenue? (d) What price should the company charge to maximize revenue? (e) What price should the company charge to earn at least $576 in revenue? (a) R(x) = TTS

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The price p and the quantity x sold of a certain product obey the demand equation below.
x= -8p +176, 0sps22
(a) Express the revenue R as a function of x.
(b) What is the revenue if 144 units are sold?
(c) What quantity x maximizes revenue? What is the maximum revenue?
(d) What price should the company charge to maximize revenue?
(e) What price should the company charge to earn at least $576 in revenue?
(a) R(x) =

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