the demand function for a certain commodity is given by p=1000-15x-x^2. (0<x<25.)what is the price per unit and the total revenue from the sale of 2 unit?
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Answer:
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Price per unit is 966 and total revenue is 1932 from the sale of 2 units for the demand function p = 1000-15x-x²
Given : The demand function for a certain commodity is given by
p = 1000-15x-x^2. (0<x<25.)
To Find : the price per unit and the total revenue from the sale of 2 unit
Solution:
demand function
p = 1000-15x-x^2. (0<x<25.)
p is the unit price for sale of x unit
Sale of 2 units
=> x= 2
Substitute x = 2 in demand function
=> p = 1000 - 15(2) - 2²
=> p = 1000 - 30 - 4
=> p = 966
Price per unit = 966
Total Revenue = 966 (2) = 1932
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