QuestionFind the revenue function for the price-demand $p(x)=85-3x$ where $1 \leq x \leq 20$ . What is $R(x)$ ?

Studdy Solution

STEP 1

Assumptions1. The price-demand function is given by $p(x) =85 -3x$ where $1 \leq x \leq20$ . . The revenue function is defined as the product of the price and the quantity sold, i.e., $R(x) = p(x) \cdot x$ .

STEP 2

We are asked to find the revenue function, $R(x)$ . As per the definition, the revenue function is the product of the price function and the quantity. $R(x) = p(x) \cdot x$

STEP 3

Substitute the given price-demand function, $p(x) =85 -3x$ , into the formula for the revenue function.
$R(x) = (85 -3x) \cdot x$

STEP 4

implify the revenue function by distributing $x$ across the terms inside the parentheses.
$R(x) =85x -3x^2$ The revenue function is $R(x) =85x -3x^2$ .

Was this helpful?

Get Studdy

Scan QR code with your device to get Studdy on iOS or Android

QR code

Studdy solves anything!

Download the app

Start learning now

Download Studdy AI Tutor now. Learn with ease and get all help you need to be successful at school.

Parents Influencer program Contact Policy Terms