Mathematics, 23.03.2021 01:40 sugar1014
A demand function for a certain product is given by the equation q=2000−70p, where p is the price in dollars, and q is the quantity demanded. 1). Find a function to represents the revenue generated by producing and selling q (not p) items. 2). Define your variables. 3). Use this function to determine the quantity that maximizes revenue. Explain/show how you got the max. 4). What price should be charged in order to maximize revenue?
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A demand function for a certain product is given by the equation q=2000−70p, where p is the price in...
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