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

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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) About Me  (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.