Revenue Equation And Demand

Then you will need to use the formula for the revenue r x p x is the number of items sold and p is the price of one item. The terms revenue and demand are related but different. In this video we maximize the revenue from a linear demand function by finding the vertex of a quadratic function.

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Revenue Function And Marginal Revenue Youtube

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Calculus Business And Economic Applications 9 Surefire Examples

A company s revenue is the amount of money that comes in from sales before business costs are subtracted.

Revenue equation and demand. Find the revenue function. After some research a company found out that if the price of a product is 50 dollars the demand is 6000. Demand can be measured in terms of volume quantity bought and or value value of sales factors affecting the. Substitute the result you found from part a into the equation r xp to find the revenue equation.

For a single product you can find the revenue by multiplying the quantity of the product sold x by the demand equation p. Demand is the amount of a product that customers are prepared to buy. Revenue is the amount value of a product that customers actually buy from a business. Check out my website http www drphilsmat.

When we compare this example inverse demand curve top and the resulting marginal revenue curve bottom we notice that the constant is the same in both equations but the coefficient on q is twice as large in the marginal revenue equation as it is in the demand equation. However if the price is 70 dollars the demand is 5000.