The demand for a product is given by the following demand function D(g) : units in demand and D(q) is the price per item, in dollars. If 9, 000 units are in demand, what is the Total Revenue that can be expected? - 0.008q + 93 , where q is Answer: Total Revenue = $
The demand for a product is given by the following demand function D(g) : units in demand and D(q) is the price per item, in dollars. If 9, 000 units are in demand, what is the Total Revenue that can be expected? - 0.008q + 93 , where q is Answer: Total Revenue = $
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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![**Demand Function and Total Revenue Calculation**
The demand for a product is given by the following demand function:
\[ D(q) = -0.008q + 93 \]
- **\(q\)** represents the number of units in demand.
- **\(D(q)\)** denotes the price per item, measured in dollars.
**Problem:**
If 9,000 units are in demand, what is the **Total Revenue** that can be expected?
**Solution:**
To find the Total Revenue, use the formula:
\[ \text{Total Revenue} = q \times D(q) \]
**Answer:** Total Revenue = \$ \_\_\_\_
*Note*: To find the answer, substitute \( q = 9000 \) into the demand function to calculate \( D(q) \), then multiply by 9000 for the Total Revenue.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa35d32dc-632b-40fd-aa41-e2c0040899b1%2F635f72d4-bf9c-4926-853f-2d8ad875ec09%2F48yqsah_processed.png&w=3840&q=75)
Transcribed Image Text:**Demand Function and Total Revenue Calculation**
The demand for a product is given by the following demand function:
\[ D(q) = -0.008q + 93 \]
- **\(q\)** represents the number of units in demand.
- **\(D(q)\)** denotes the price per item, measured in dollars.
**Problem:**
If 9,000 units are in demand, what is the **Total Revenue** that can be expected?
**Solution:**
To find the Total Revenue, use the formula:
\[ \text{Total Revenue} = q \times D(q) \]
**Answer:** Total Revenue = \$ \_\_\_\_
*Note*: To find the answer, substitute \( q = 9000 \) into the demand function to calculate \( D(q) \), then multiply by 9000 for the Total Revenue.
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