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1 answer:
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Answer:
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Step-by-step explanation:
In the attached file
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Answer:
The maximum revenue is 16000 dollars (at p = 40)
Step-by-step explanation:
One way to find the maximum value is derivatives. The first derivative is used to find where the slope of function will be zero.
Given function is:
Taking derivative wrt p
Now putting R'(p) = 0
As p is is positive and the second derivative is -20, the function will have maximum value at p = 40
Putting p=40 in function
The maximum revenue is 16000 dollars (at p = 40)