The price p (in dollars) and the demand X for a particular clock radio are related by the equation X = 3000 -10p. Find and answe

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2 years ago

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1 answer:

alukav5142 [94] · Answer 1 · 2023-10-24T08:57:15+03:00

The price p based on the equation given is p = 3000 - 0.1x.

<h3>How to express the price?</h3>

The equation given in the question is x = 3000 - 10p. The price(p) will be:

x = 3000 - 10p.

Make p the subject of the formula

x + 10p = 3000

10p = 3000 - x

p = (3000 - x)/10

p = 3000 - 0.1x

The revenue will be price multiplied by quantity. This will be:

= (3000 - 0.1x) × x

= 3000x - 0.1x²

The marginal revenue will be calculated after differentiating. This will be:

= 3000x - 0.1x²

= 3000 - 0.2x

The demand which is the quantity based on the information will be:

3000 - 0.2x = 0

0.2x = 3000

x = 1500

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