Question

The price p (in dollars ) and the quantity x sold of a certain product obey the demand equation p=-(1)/(6)x+100. (a) Find a model that expresses the revenue R as a function of x. R(x)

Answer 1

The main objective of this question is to find the revenue model of the given equation as just a function with respect to x.

This question uses the concept of revenue model. A revenue model is a blueprint that outlines how a startup company will generate revenue or annual profit out of its basic business operations. Revenue is a blueprint that outlines how a startup business would then generate revenue or annual profit out of its standard daily operations, as well as how it will cover operating costs and expenses.


We have to find the revenue model for the given expression. A revenue model is a blueprint that outlines how a startup company will generate revenue or annual profit out of its basic business operations. The given expression is
P=-1/6x+100


We know that:R=xp

So R=x(-1/6x+100)

Multiplying x results in :
R=-1/6 x(square) +100x.
So the final answer should be R=-1/6x(square)+100x

Hope it’s helpful