Question

In the revenue equation R = –360p2 + 28,800p, what is the highest price that should be set that leads to a revenue of $540,000?

Group of answer choices

$30.00

$1,500.00

$80.00

$50.00

Answer 1

The revenue equation is R = 360p^2 + 28,800p. To find the highest price that should be set that leads to a revenue of $540,000, we need to solve the equation 360p^2 + 28,800p = 540,000.

Simplifying the equation by dividing both sides by 360 gives us p^2 + 80p - 1500 = 0.

Using the quadratic formula (-b ± sqrt(b^2 - 4ac)) / 2a where a = 1, b = 80 and c = -1500 gives us two solutions: p = -30 or p = 50.

Since price cannot be negative, the highest price that should be set that leads to a revenue of $540,000 is $50.00.

I hope this helps! Let me know if you have any other questions.