The price p in dollars and the quantity x sold of a certain product obey the demand equation -1/5x+100 (0≤ x ≤ 500)
2 answers:
Answer:
Step-by-step explanation:
<u>We have:</u>
- p = -1/5x + 100 = -0.2x + 100
a) <u>The revenue is:</u>
- R = px
- R = x( -0.2x + 100)
- R= -0.2x² + 100x
b) <u>x = 200, find R:</u>
- R = -0.2(200²) + 100(200) = 12000
c) <u>This is a quadratic function and the maximum value is obtained at vertex.</u>
- x = -100/(-0.2*2) = 250 is the required quantity
d) <u>The max revenue is obtained when -0.2x + 100 at max:</u>
- The maximum possible is p = 100 when x = 0
Answer to your question is given in the attachment
<h2>HOPE THIS HELPS :)</h2>
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