Question

5. Suppose the selling price per unit of certain product is determined according to the demand as p = 100 -0.01x dollars for x units of demand (this is known as demand function). Find the level of production that result in maximum revenue. Hint: The revenue function R(x) is given by R(x) = x.p = x(100 – 0.1x) = 100x – 0.1x2.
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Answer 1

Answer:

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Suppose the selling price per unit of certain product is determined according to the demand as p = 100 -0.01x dollars for x units of demand (this is known as demand function). Find the level of production that result in maximum revenue. Hint: The revenue function R(x) is given by R(x) = x.p = x(100 – 0.1x) = 100x

Answer 2

Suppose the selling price per unit of certain product is determined according to the demand as p = 100 -0.01x dollars for x units of demand (this is known as demand function). Find the level of production that result in maximum revenue. Hint: The revenue function R(x) is given by R(x) = x.p = x(100 – 0.1x) = 100x – 0.1x2.

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