Question

The price-demand equation for avocados is 10 p + x = 25 , where p is the price of an avocado and x is the weekly demand (in thousands) for avocados. Write an expression for revenue as a function of the weekly price for avocados.

Answer 1

We have been given the price-demand equation for avocados is 10 p + x = 25.

Let us solve the equation for x.

`10 p + x = 25`

Subtract 10p to both sides of the equation

`x=25-10p`

Revenue function is given by

`R(x)=xp\\ \\ R(p)=(25-10p)p\\ \\ R(p)=25p-10p^2`

Therefore, the revenue function in terms of weekly price for avocados is given by

`R(x)=25p-10p^2`