The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q= 800 - 20 p and 0 <= p <= 40 (i) Express the revenue R as a function of q. (ii) What is the revenue if 20 units are sold? (iii) What quantity q maximizes revenue? What is the maximum revenue?
The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q= 800 - 20 p and 0 <= p <= 40 (i) Express the revenue R as a function of q. (ii) What is the revenue if 20 units are sold? (iii) What quantity q maximizes revenue? What is the maximum revenue?
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter1: Functions
Section1.4: Functions Given By Words
Problem 13E
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The price p (in dollars) and the quantity q sold of a certain product obey the demand
equation q= 800 - 20 p and 0 <= p <= 40
(i) Express the revenue R as a function of q.
(ii) What is the revenue if 20 units are sold?
(iii) What quantity q maximizes revenue? What is the maximum revenue?
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