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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