Question 1008705
R(x)=1500x-0.02x^2: In this formula x is the quantity, there is no c. So if your quantity is 1,000:
Revenue for 1,000 watches: R(1,000)
R(1,000)= 1500(1,000)- 0.02(1,000)^2
R(1,000)= 1,500,000- 400=  = 1,499,600 
With this formula you can answer two questions:
A)find the marginal revenue at a production level of x.
B)find the production levels where the revenue is $n.
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Profit is maximized where price and demand intersect. You set the formula like this:
Quantity of demand (Qd)= Quantity of supply (Qs)
For example:
If the demand function is Qd = 100-20P
and the supply function is Qs = -60 + 50p
set  100-20P= -60+50P
and solve for P
*[illustration price_supply.JPG]