Explanation Given information: The demand curve for a product is given by q = 300 − 3 p , where p is the price of the product and q is the quantity that consumers buy at this price. Formula used: Revenue is equal to the number of units sold times the price per unit. ⇒ R ( p ) = p × q ( p ) Calculation: q = 300 − 3 p (Given) The revenue function is given by < To determine (b) To find: R ' ( 10 ) To determine (c) To find: The price for which R ' ( p ) is positive and is negative.

6th Edition

ISBN: 9781119399353

Author: DA

Publisher: JOHN WILEY+SONS,INC.-CONSIGNMENT

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Question

Chapter 3.1, Problem 73P

To determine

(a)

To write:

The revenue as a function, R(p), of price.

To determine

(b)

To find:

R'(10)

To determine

(c)

To find:

The price for which R'(p) is positive and is negative.

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Chapter 3.1, Problem 72P

Chapter 3.1, Problem 74P

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