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  3. 0 product and is equal to the unit selling price p

0 product and is equal to the unit selling price p of the product times...

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Basic Math

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0 product and is equal to the unit selling price p of the product times the number x of units actually in economics revenue R Is defined as the amount of money received from the sale of a sold That is R xp The Law of Demand states that p and x are related As one increases the other decreases Suppose that p and x are related by the following demand equation A Express the revenue R as a function of p x 4p 100 B What is the revenue if 18 units are sold c Sketch the graph of the revenue function D What quantity x maximizes revenue E What is the maximum revenue 0 p 25 700 600 500 400 300 Revenue dollars

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