The demand equation for a certain product is given by p= 126 -0.06x, where p is the unit price (in dollars) of the product and x is the number of units produced. The total revenue obtained by producing and selling a units is given by R = xp. Determine prices p that would yield a revenue of 5500 dollars. Lowest such price = Highest such price:

The demand equation for a certain product is given by p= 126 -0.06x, where p is the unit price (in dollars) of the product and x is the number of units produced. The total revenue obtained by producing and selling a units is given by R = xp. Determine prices p that would yield a revenue of 5500 dollars. Lowest such price = Highest such price:

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter2: Functions And Graphs

Section2.3: Linear Functions And Slope

Problem 106E

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