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A company's revenue (in dollars) can be modeled by the function (will attach function in a sec!) where p is the price in dollars of the company's product. What price (…
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A company's revenue (in dollars) can be modeled by the function (will attach function in a sec!) where p is the price in dollars of the company's product. What price (…
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Jan 20, 2017
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A company's revenue (in dollars) can be modeled by the function
(will attach function in a sec!)
where p is the price in dollars of the company's product. What price (in dollars) will maximize the revenue?
Round to the nearest penny.
Mathematics
high-school
MFAL
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R(p) = -15p² + 200p + 10,000
To find the maximum of the function, we take the first derivative and equate to 0:
R'(p) = -30p + 200
0 = -30p + 200
p = 6.67
A price of $6.67 will maximize revenue.
KingOtto
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Jan 25, 2017
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KingOtto
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