The following function is a company's price function, where p is the price (in dollars) at which quantity x (in thousands) will be sold. p = 800e−0.1x (a) Find the revenue function R(x). [Hint: Revenue is price times quantity, p · x.] R(x) = (b) Find the quantity and price that will maximize revenue. (Round your answers to two decimal places.) x = thousand units p = $
The following function is a company's price function, where p is the price (in dollars) at which quantity x (in thousands) will be sold. p = 800e−0.1x (a) Find the revenue function R(x). [Hint: Revenue is price times quantity, p · x.] R(x) = (b) Find the quantity and price that will maximize revenue. (Round your answers to two decimal places.) x = thousand units p = $
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter9: Quadratic Functions And Equations
Section9.6: Solving Quadratic Equations By Using The Quadratic Formula
Problem 64PFA
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The following function is a company's price function, where p is the price (in dollars) at which quantity x (in thousands) will be sold.
p = 800e−0.1x
(a)
Find the revenue function
R(x).
[Hint: Revenue is price times quantity, p · x.]R(x) =
(b)
Find the quantity and price that will maximize revenue. (Round your answers to two decimal places.)
x | = | thousand units | |
p | = | $ |
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