Concept explainers
Maximizing Revenue The price (in dollars) and the quantity sold of a certain product obey the demand equation
(a) Find a model that expresses the revenue as a function of . (Remember, .)
(b) What is the domain of ?
(c) What is the revenue if 200 units are sold?
(d) What quantity maximizes revenue? What is the maximum revenue?
(e) What price should the company charge to maximize revenue?
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