mathdad
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- Apr 24, 2015
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The price p (in dollars) and the quantity x sold of a certain product obey the demand equation x = -(x/6)p + 100. Find a model that represents the revenue R as a function of x.
Note: Revenue = price x quantity sold or in short R = px.
Same as the previous problems.
Solve x = -(x/6)p + 100 for p and then plug into R = px.
x = -(x/6)p + 100
x - 100 = -(x/6)p
(x - 100)/-(x/6) = p
(6x - 600)/(-x) = p
R = [(6x - 600)/(-x)]x
Is it ok to leave this expression just as it is?
I managed to express the revenue R as a function of x.
Note: Revenue = price x quantity sold or in short R = px.
Same as the previous problems.
Solve x = -(x/6)p + 100 for p and then plug into R = px.
x = -(x/6)p + 100
x - 100 = -(x/6)p
(x - 100)/-(x/6) = p
(6x - 600)/(-x) = p
R = [(6x - 600)/(-x)]x
Is it ok to leave this expression just as it is?
I managed to express the revenue R as a function of x.