Write Revenue As A Function Of Price

Revenue is maximized at price of 11 18 per pound.

Write revenue as a function of price. 2 a business costs include the fixed cost of 5000 as well as the variable cost of 40 per bike. To maximize revenue how many dresses should be. If one type of product is being sold at one price the revenue function is simply. To obtain the cost function add fixed cost and variable cost together.

P 1 10x 150 revenue is x p. For instance if a lemonade stand sold x glasses of lemonade at 50 cents each the revenue function. R revenue p price per unit x number of units sold. Write the function that describes the revenue function.

As a point you can write p x. Calculating the revenue function. Graphs of revenue cost and profit functions for ice cream bar business at price of 1 50. Solution or modeling the revenue function notice that the demand depends on the price of the product.

Q 350 5p a enter the equation for revenue r as a function of price p. The price in dollars and the quantity x sold of certain product obey the demand equation. Essentially the average cost function is the variable cost per unit of 0 30 plus a portion of the fixed cost allocated across all units. The higher the price the less the demand.

A express the revenue r as a function of x. Revenue is equal to the number of units sold times the price per unit. Finding the quadratic function. Sometimes the price per unit is a function x say p x it is often called a demand function too because when a.

Suppose the quantity demanded per week of a certain dress is related to the unit price p by the demand equation p sqrt800 x. If x is the demand or how many items are sold and p is the price we can then say that x depends on p. Suppose x denotes the number of units a company plan to produce or sell usaually a revenue function r x is set up as follows. B write revenue as a function of price and then find the price that maximizes revenue.

R x price per unit number of units produced or sold.