revenue is price * quantity, so
R(x) = x*p(x) = x(-.16x+320)
= -.16x^2 + 320x
Now just find the vertex of that parabola to locate maximum revenue.
The price
p
and the quantity
x
sold of a small flat-screen television set obeys the demand equation below.
a) How much should be charged for the television set if there are
80
television sets in stock?
b) What quantity
x
will maximize revenue? What is the maximum revenue?
c) What price should be charged in order to maximize revenue?
p=-.16x+320
1 answer
1 answer