Answer: $35 is the selling price and $1225 is the maximum revenue.
Step-by-step explanation:
Since we have given that
We need to find the maximum revenue.
So, We will first derivative it w.r.t. x.
So, it becomes,
Now, we will find critical points.
So, R'(x) = 0
So, it becomes,
Now, to check whether it yields maximum revenue or not.
So, second derivative w.r.t. x, we get that
R''(x) = -2<0
So, At $35, it yields maximum revenue.
Amount of maximum revenue would be
Hence, $35 is the selling price and $1225 is the maximum revenue.