SOLUTION: You operate a gaming Web site, www.mudbeast.net, where users must pay a small fee to log on. When you charged $3 the demand was 1180 log-ons per month. When you lowered the price t
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Question 1164713: You operate a gaming Web site, www.mudbeast.net, where users must pay a small fee to log on. When you charged $3 the demand was 1180 log-ons per month. When you lowered the price to $2.50, the demand increased to 1475 log-ons per month.
(a) Construct a linear demand function for your Web site and hence obtain the monthly revenue R as a function of the log-on fee p.
R(p) =
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
You are given two data points where the revenue value (R) is a function of the price (p), namely )
and )
Use the Two-Point Form:
)
Where )
and )
are the given points.
John
My calculator said it, I believe it, that settles it
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