SOLUTION: The demand equation for a product is q=f(p)=35000e^-0.05p where q is the quantity demanded (in units) and P is the price (in dollars). a) Determine the value of P which will resul

Question 1170893: The demand equation for a product is q=f(p)=35000e^-0.05p where q is the quantity demanded (in units) and P is the price (in dollars).
a) Determine the value of P which will result in maximum total revenue.
b)what is the maximum total revenue.
Answer:20(not sure)
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
this equation will not give you a maximum value.
i graphed it and it looks like this.

it goes up towards infinity on the left and it goes down towards 0 on the right.

there is no maximum values.
it approaches 0 but never touches it.
0 is the limit as the value of x approaches infinity.

y takes the place of q and x takes the places of p in the graph.

the equation that i think you provided is q = 35000 * e ^ (-.05 * p)

the equation that was graphes is y = 35000 * e ^ ( -.05 * x)

it's the same equation with a change in variable names only.

this was done for graphing purposes.

RELATED QUESTIONS
The demand function for a product is p=128−8q where p is the price in dollars... (answered by ikleyn)

Good Day, Got no reply to this question. The demand curve for a swivel chair is given... (answered by MathLover1,Theo)

The demand curve for a swivel chair is given by p=4000^(3-q) dollars per swivel chair,... (answered by CPhill)

supply and demand equation where x represents the quantity demanded in units of 1000 and... (answered by greenestamps)

Consider the demand equation below, where x represents the quantity demanded in units of... (answered by rfer,stanbon)

The demand equation for the Drake GPS Navigator is x + 4p − 1100 = 0, where x... (answered by ankor@dixie-net.com)

The demand equation for the Drake GPS Navigator is x + 4p − 728 = 0, where x is... (answered by ikleyn)

sketch the graph of the following demand relations where p denotes price per unit and q... (answered by Boreal)

A certain product has supply and demand functions given by p=7q+21 and p=329-4q,... (answered by Boreal)