Business, 26.03.2020 01:08 jay5902

The demand for a new computer game can be modeled by p (x )equals 48.5 minus 5 ln x, for 0less than or equalsxless than or equals800, where p(x) is the price consumers will pay, in dollars, and x is the number of games sold, in thousands. Recall that total revenue is given by R (x)= x * p (x). Complete parts (a) through (c) below.

a. Find R(x).

b. Find the marginal revenue, R'(x)

c. Is there any price at which revenue will be maximized? Why or why not? Choose the correct answer below.

a. No, because p(x)R'(x). Therefore, the revenue cannot be maximized.

b. No, because the marginal revenue, R'(x), has no maximum. Therefore, revenue will always increase

c. Yes, because the revenue will be maximized when R(x)-R'(x). The price to the consumer would be $:

d. Yes, because the revenue will be maximized when R'(x)=0. The price to the consumer would be $:

Answers: 2

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The demand for a new computer game can be modeled by p (x )equals 48.5 minus 5 ln x, for 0less than...

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