Tomic and Brooke make a game of shooting free throws. Each basket is worth 2 1/2 points. Each miss is worth −3/4 points. Out of
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Answer:
The maximum revenue is $1,20,125 that occurs when the unit price is $155.
Step-by-step explanation:
The revenue function is given as:
where p is unit price in dollars.
First, we differentiate R(p) with respect to p, to get,
Equating the first derivative to zero, we get,
Again differentiation R(p), with respect to p, we get,
At p = 155
Thus by double derivative test, maxima occurs at p = 155 for R(p).
Thus, maximum revenue occurs when p = $155.
Maximum revenue
Thus, maximum revenue is $120125 that occurs when the unit price is $155.