document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=934641>Question 934641</A>: <I><SPAN STYLE=\"word-break: break-all;\"> the dollare price for a barrel of oil sold at a certain oil refinery tends to follow the demand equation below, where x is the number of barrels of oil on hand( in millions) <BR>\n" );
document.write( "A) how much should be charged for a barrel of oil on hand <BR>\n" );
document.write( "B) what quantity x will maximize revenue? what is the maximum revenue<BR>\n" );
document.write( "C) what prcies should be charged in oreder to maximize revenue\r<BR>\n" );
document.write( "\n" );
document.write( "P=-1/5x+140 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #568175 by </B><A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><B>ankor@dixie-net.com(22740)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ankor@dixie-net.com><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=568175\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> the dollare price for a barrel of oil sold at a certain oil refinery tends to follow the demand equation below, where x is the number of barrels of oil on hand( in millions)<BR>\n" );
document.write( "P = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=-1%2F5 ALIGN=MIDDLE  ALT=\"-1%2F5\"   DISABLED_style= \"max-width:90%; height:auto;\" >x + 140<BR>\n" );
document.write( ":<BR>\n" );
document.write( "A) how much should be charged for a barrel of oil on hand<BR>\n" );
document.write( "One barrel of oil on hand ( in millions)<BR>\n" );
document.write( "P = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=-1%2F5 ALIGN=MIDDLE  ALT=\"-1%2F5\"   DISABLED_style= \"max-width:90%; height:auto;\" >(1) + 140<BR>\n" );
document.write( "P = -.20 + 140<BR>\n" );
document.write( "P = $139.80<BR>\n" );
document.write( ":<BR>\n" );
document.write( "B) what quantity x will maximize revenue?<BR>\n" );
document.write( "Rev = quantity * price<BR>\n" );
document.write( "R = x(<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=-1%2F5 ALIGN=MIDDLE  ALT=\"-1%2F5\"   DISABLED_style= \"max-width:90%; height:auto;\" >x + 140)<BR>\n" );
document.write( "R = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=-1%2F5 ALIGN=MIDDLE  ALT=\"-1%2F5\"   DISABLED_style= \"max-width:90%; height:auto;\" >x^2 + 140x<BR>\n" );
document.write( "This is a quadratic equation; max occurs at he axis of Symmetry, x = -b/(2a)<BR>\n" );
document.write( "therefore<BR>\n" );
document.write( "x = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%28-140%29%2F%28-2%2F5%29 ALIGN=MIDDLE  ALT=\"%28-140%29%2F%28-2%2F5%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "x = +350 million barrels of oil on hand for max revenue<BR>\n" );
document.write( "\"what is the maximum revenue?'<BR>\n" );
document.write( "Find the price when 350 m barrels are on hand<BR>\n" );
document.write( "P = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=-1%2F5 ALIGN=MIDDLE  ALT=\"-1%2F5\"   DISABLED_style= \"max-width:90%; height:auto;\" >(350) + 140<BR>\n" );
document.write( "P = -70 + 140<BR>\n" );
document.write( "P = $70 a barrel for max rev<BR>\n" );
document.write( "Max revenue: 70 * 350 million = $24,500 million<BR>\n" );
document.write( ":<BR>\n" );
document.write( "C) what price should be charged in order to maximize revenue<BR>\n" );
document.write( "$70 a barrel<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );