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 ->  Customizable Word Problem Solvers  -> Misc -> 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      Log On

Ad: Over 600 Algebra Word Problems at edhelper.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) About Me  (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.