SOLUTION: A trailer company has found that the revenue from sales of heavy duty truck trailers is a function of the price, p, it charges. If the revenue R is given by
R(p)= -3/4 p^
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-> SOLUTION: A trailer company has found that the revenue from sales of heavy duty truck trailers is a function of the price, p, it charges. If the revenue R is given by
R(p)= -3/4 p^
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Question 441270: A trailer company has found that the revenue from sales of heavy duty truck trailers is a function of the price, p, it charges. If the revenue R is given by
R(p)= -3/4 p^2+2700p, what is the maximum revenue?
Draw a rough sketch of R(p) labeling both axes and the y-intercept.
Write the formula you use to find the maximum revenue.
Find the maximum revenue.
Show all math work below for b. and c. Show all calculator work and state keys used:
c. State the final answer to part b: ____________________________________________________
d. State the model of calculator or other form of technology used to solve this problem:
You can put this solution on YOUR website! R(p)= -3/4 p^2+2700p
To determine the maximum of this function, we take the derivative and set = 0:
dR/dp = (2)(-3/4)p + 2700 = 0
(-3/2)p = -2700 -> p = 1800
Therefore, the maximum revenue is R(1800) = (-3/4)*1800^2 + 2700(1800) = 2430000
The graph of the function is below:
