Question
using the demand function p = 41 − 0.04 q instead of the one given in your book. Round your numeric answers to one decimal place.
a) Write the revenue as a function of production, q.
R(q) =
b) What production level maximizes revenue?
q =
c) What price corresponds to this production level?
price = $
d) What is the total revenue at this production level?
revenue = $
a) Write the revenue as a function of production, q.
R(q) =
b) What production level maximizes revenue?
q =
c) What price corresponds to this production level?
price = $
d) What is the total revenue at this production level?
revenue = $