Question
, where p is the price (in dollars) per unit when q units are demanded (per week) by consumers.
Find the level of production per week that will maximize total revenue, and determine the maximum revenue per week.
- A) Solve for p to determine the price function p(q):
- B) Using the fact that Revenue = price x quantity, determine the revenue function R(q):
- C) Find the q-coordinate of the vertex, for the parabola that corresponds to R(q). This is the level of production per week that will maximize total revenue:
D) Find the R-coordinate of the vertex, for the parabola that corresponds to R(q). This is the maximum revenue per week:
Math 28 Project I
Introduction To start, consider the last time you purchased something, such as cereal. Let’s say
you bought 5 boxes of cereal at $3.00. Now, what if there was a sale? You might…
Math
