The price p (in dollars) and the quantity x sold of a certain product satisfy the demand equation x = -6p + 600: a) find a model that expresses the revenue R as a function of p. (remember, R = xp)
R(p) = ?
b) what is the domain of R? assume that R is nonnegative.
c) what price p maximizes revenue? simplify answer.
d) what is the maximum revenue? simplify answer.
e) how many units are sold at this price? simplify answer.
f) what price should the company charge to earn at least $9,954 in revenue? simplify answer.
minimum of:
maximum of: