SOLUTION: The quadratic function
R(p) = 70p − 5.2p2
models the amount of revenue in dollars R(p), generated from a product priced at p dollars.
Question: What price gen
Algebra.Com
Question 977646: The quadratic function
R(p) = 70p − 5.2p2
models the amount of revenue in dollars R(p), generated from a product priced at p dollars.
Question: What price generates the maximum revenue?
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
R(p) = 70p - 5.2p^2
R ' (p) = 70 - 10.4p ... apply the derivative, set it equal to 0 and solve for p
0 = 70 - 10.4p
10.4p = 70
p = 70/10.4
p = 6.73076923076923
p = 6.73
The price $6.73 generates the max revenue.
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