The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q=800-20 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?
Can you assist with questions 2 and 3 please.
(2) The
equation q=800-20 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?
(iv) What price should the company charge to maximize revenue?
(v) What price should the company charge to earn at least $3500 in revenue?
(3) You are an accountant for a manufacturer of radios. The demand function for the tablets is 2 p x = 40-4x2 where x is the number of tablets produced in millions. It costs the company $15 to make a tablet.
(i). Write an equation for the manufacturer’s profit as a function of the number of tablets produced.
(ii). The company currently produces 1 million 2tablets and makes a profit of $21,000,000, but you would like to scale up production a bit. What greater number of tablets could the company produce to yield the same profit?
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