Demand Equation The price p and the quantity x sold of a certain 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?
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A Demand Equation, Writing a Revenue Function and Maximizing Revenue are investigated. The solution is detailed and well presented. A graph is included.