# Demand Equation: Example Problem

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The price p and the quanity x sold of a product obey the demand equation

x = -20p + 500, 0<P<25

a. Express the revenue R as a function of X

b. What is the revenue if 20 units are sold?

c. What quantity x maximizes revenue? What is the maximum revenue?

d. What price should the company charge to maximize revenue?

https://brainmass.com/economics/demand-supply/demand-equation-example-problem-42084

#### Solution Preview

The price pand the quanity x sold of a product obey the demand equation

x = -20p + 500, 0<P<25

a. Express the revenue R as a function of X

Total ...

#### Solution Summary

Provides steps necessary to answer each of the given questions.

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