Question

If the price charged for a candy bar is p cents, then x thousand candy bars will be sold in a certain city, where p = 8 - . how many candy bars must be sold to maximize revenue?

Answer 1

992 candy bars must be sold to maximize revenue.

What is revenue?

• The total amount of income generated by the sale of goods and services related to the primary operations of the business is referred to as revenue in accounting.
• Commercial revenue is also known as sales or turnover.
• Some businesses make money by charging interest, royalties, or other fees.

To find how many candy bars must be sold to maximize revenue:

The price of a candy bar is determined by the quantity sold:

• p(x) = 124 - (x/16) where x is in 1000s.

If the candy bar's price is p(x), the revenue function is:

• R(x) = p(x) · x = 124 · x - x²/16

Find the solution of R'(x) = 0 to maximize R(x):

• R'(x) = 124 - x/8
• 124 -  x/8 = 0
• x = 992

Therefore, 992 candy bars must be sold to maximize revenue.

Know more about revenue here:

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The correct question is given below:
If the price of a candy bar is p(x) cents then x thousand candy bars are sold. The price p(x) = 124-(x/16). How many candy bars must be sold to maximize revenue?