Please provide a detailed explanation and step by step solution. I also need to see hope this is graphed.
Company has determined approximate relationship between quantity (Q) of it's product it can sell and the price in dollars (P) per product:
Q = -20P + 330
I know total revenue = price * quantity. I need to undestand how to determine the price that maximizes total revenue. I also need to see how this is done graphically to be able to support the answer.© BrainMass Inc. brainmass.com December 15, 2020, 12:13 pm ad1c9bdddf
Find the price that maximizes total revenue.