Henry is contemplating selling his cryptocurrency, Trojacoin. By looking at the latest trend charts on...
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Henry is contemplating selling his cryptocurrency, Trojacoin. By looking at the latest trend charts on cryptocurrency.com, he is confident the demand for Trojacoin token can be estimated using the equation T(p) = 60-5p where p is the selling price in US dollars and T is the number of Trojacoin tokens he can sell at that price. Henry holds 40 Trojacoins that he is willing to sell (fractions of tokens can be exchanged).
At what price should Henry sell to maximize his revenue? $6
How many Trojacoins will Henry sell at that price? 30
What is the maximum revenue Henry can expect? $180
Henry decides that someday in the future, Trojacoins may be worth a lot, so he wants to keep half and sell the rest. Should he change the price at which he is willing to sell, or should he still sell at the price found in part (a)? What is his new revenue?
Change $160
Please show work on how to arrive at the above answers, thank you!
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