SOLUTION: A company's revenue is the amount of money that comes in from sales, before business costs subtracted. For a single product, you can find the revenue by multiplying the quantity of
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-> SOLUTION: A company's revenue is the amount of money that comes in from sales, before business costs subtracted. For a single product, you can find the revenue by multiplying the quantity of
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Question 145995: A company's revenue is the amount of money that comes in from sales, before business costs subtracted. For a single product, you can find the revenue by multiplying the quantity of the product sold, x, by the demand equation, p.
Result from a.(p=-x+62)
Substitute the result you found from part a into the equation R=xp to find the revenue equation. Provide your answer in simplified form. Answer by nerdybill(7384) (Show Source):
You can put this solution on YOUR website!
Well, if your result from Part a is:
p=-x+62
or, written a little differently:
p=62-x
.
All they are asking you to do is to "plug" it in to:
R=xp
.
So, let's do that:
R=xp
Replacing p with 62-x
R=x(62-x)
The above is "simplified"... you could expand it to look like:
R = 62x-x^2
