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Question 461947: Please help me to solve this problem. The demand function for an electronics company's laptop computer line is p = 2400 - 6q , where p is the price (in dollars) per unit when q units are demanded (per week) by consumers. Find the level of production that will maximizes the manufacturer's total revenue an determine this revenue.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Please help me to solve this problem. The demand function for an electronics company's laptop computer line is p = 2400 - 6q , where p is the price (in dollars) per unit when q units are demanded (per week) by consumers. Find the level of production that will maximizes the manufacturer's total revenue an determine this revenue.
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Revenue = price*units sold
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R(p) = (2400-6q)*q
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R(p) = 2400q - 6q^2
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max occurs when q = -b/(2a) = -2400/(2*-6) = 200
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Maximum Revenue occurs when production = 200 units are produced per week
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The maximum Revenue = R(200) = 2400*200 - 6*200^2 = $240,000
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cheers,
Stan H.
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