Question

The price p in dollars and the quantity x sold of a certain product obey the demand equation -1/5x+100 (0≤ x ≤ 500)

Answer 1

Answer:

• See below

Step-by-step explanation:

We have:

• p = -1/5x + 100 = -0.2x + 100

a) The revenue is:

• R = px
• R = x( -0.2x + 100)
• R= -0.2x² + 100x

b) x = 200, find R:

• R = -0.2(200²) + 100(200) = 12000

c) This is a quadratic function and the maximum value is obtained at vertex.

• x = -100/(-0.2*2) = 250 is the required quantity

d) The max revenue is obtained when -0.2x + 100 at max:

• The maximum possible is p = 100 when x = 0

Answer 2

Answer to your question is given in the attachment

HOPE THIS HELPS :)