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    demand function

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    There are two different problems of calculus (see the attachment).

    © BrainMass Inc. brainmass.com October 10, 2019, 12:56 am ad1c9bdddf


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    Please find solutions/explanations attached herewith.

    1) Consider the demand function for selling x widgets given by

    p(x) = 30(ln(40)+1) -30ln(x)

    a) Find the revenue generated by selling x widgets.

    Revenue R(x) = xp(x)
    R(x) = x*(30(ln(40)+1) -30ln(x))
    R(x) = 30x(ln(40)+1) -30xln(x)

    b) Assume that the production level is related to the number of employees by the formula x =10n where n is the number of employees. Find the revenue generated as a function of n employees.
    Put x = 10n

    R(n) = 30*(10n) (ln(40)+1) -30*10n*ln(10n)
    R(n)= 300n(ln(40)+1) - 300nln(10n)
    R(n)= 300n(ln(40)+1) -300n(ln(10)+ln(n))
    R(n)= 300nln(40) + 300n - 300n(1n(10) + ln(n))
    R(n)= 300nln(40) + 300n - 300nln(10) - 300nln(n)
    R(n)= 300nln(40) - 300nln(10) + 300n - 300nln(n)
    R(n)= ...

    Solution Summary

    Find the revenue generated in this case.