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Math Help - Demand Equation; Domain

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    Demand Equation; Domain

    The price, p and the quantity x sold of a certain product ovey the demand equation
    x=10000 - 200p
    A: Find a model that expresses the revenue R as a function of p

    B: What is the domain of R?

    C:What unit price should be used to maximize revenue?

    D: If this price is changed, what is the maximum revenue?

    E: How many units are sold at this price?

    F: What price should be charged to collect at least $80000 in revenue?
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  2. #2
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    Re: Demand Equation; Domain

    Quote Originally Posted by britta View Post
    The price, p and the quantity x sold of a certain product ovey the demand equation
    x=10000 - 200p
    A: Find a model that expresses the revenue R as a function of p

    revenue = (price)(quantity sold)

    B: What is the domain of R?

    use the revenue equation and the fact that p and R > 0

    C:What unit price should be used to maximize revenue?

    the revenue function will be quadratic ... max revenue at the vertex

    D: If this price is changed, what is the maximum revenue?

    evaluate revenue at the price that maximizes it

    E: How many units are sold at this price?

    evaluate the demand function at the price

    F: What price should be charged to collect at least $80000 in revenue?

    set revenue = 80000 , you should get two possible solutions for p
    ...
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